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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