Monthly Federal Spending Tops $400B for First Time
Remember how much complaining there was when Obama was spending? That’s nothing! Federal spending just hit a new all-time record.
Real monthly federal spending topped $400 billion for the first time in June, when the Treasury spent a record $428,894,000,000, according to the Monthly Treasury Statement released today.
Prior to June, the record for federal spending in a single month was held by March 2017, when the Treasury spent approximately $392,816,000,000.
In August 2012, the Treasury spent $392,408,410,000 in constant 2017 dollars
As the Treasury was spending a record $428,894,000,000 in June it was taking in approximately $338,660,000,000 in taxes—thus, running a deficit for the month of $90,233,000,000.
So far in fiscal 2017 (which began on Oct. 1, 2016 and will end on Sept. 30, 2017), the Treasury has brought in $2,507,820,000,000 in taxes and spent $3,030,903,000,000—running a deficit of $523,082,000,000.
Last year in June, the federal government spent $323,320,000,000—or $328,303,590,000 in constant 2017 dollars. The record $428,894,000,000 that the federal government spent this June is $100,590,410,000 more (in constant 2017 dollars) than last June’s spending.