Might the US have a debt funding crisis soon?

Check out the latest Monthly Treasury Statement. The US collected $210.8 Billion in receipts.

  •  $88 Billion from individual income tax;
  •  $98 Billion in Social Security and payroll tax;
  •  $5 Billion in corporate tax; and
  • $20 Billion in other tax and duties (dropping 2.7 from the $216 Billion from last March).

Yet Federal spending continues to surge. It rose by 7% to $420 Billion from $392.8 Billion last March.

This monthly government outlay is the 2nd highest on record! 

A serious spending problem?

 


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