Careless Federal Spending Should Make All Americans Angry
Leave it to the absolute mess that is the D.C. Swamp to launch spending to new heights. Thanks to unelected bureaucrats and a clueless Congress, the federal deficit is higher than its ever been. Spending is also up, to the tune of $3 trillion for the first quarter of 2019. That number is simply unheard of. Federal spending is absolutely out of control, and action to curb this outrageous spending must be taken soon.
For the first time in the history of the United States, the federal government has spent more than $3 trillion in the first eight months of the fiscal year, according to the Monthly Treasury Statement released today.
The record $3,013,541,000,000 that the federal government spent in October through May of fiscal 2019 was $181,157,920,000 more than the previous record of $2,832,383,080,000 (in constant May 2019 dollars) that the federal government spent in October through May of fiscal 2009.
Total federal tax revenues in the first eight months of fiscal 2019 hit $2,274,902,000,000, which fell $5,612,990,000 short of the record $2,280,514,990,000 (in constant May 2019 dollars) that the Treasury collected in total tax revenues in the first eight months of fiscal 2016.
The hungriest programs include major entitlement programs. Entitlement programs like Medicare and Social Security, which will eventually be insolvent and limited for generations to come, account for over $1 trillion worth of taxpayer money alone. If Congress wants a place to start cutting the budget, that’s the best place to begin.