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While we argue over who sits where on the deck chairs of the Titanic…
Posted on 3/26/24 at 9:54 am
Posted on 3/26/24 at 9:54 am
US Debt passed a milestone this month: spending is 2x tax revenues:
US Tax Revenue Swallowed by Debt Interest: Debt interest payments have begun to consume a vast portion of income tax revenue, revealing a concerning imbalance in federal spending and income…
In a sobering assessment of the United States' fiscal health, recent data has revealed a concerning trend where federal government spending has vastly exceeded its tax revenue. Last month, the U.S. Treasury's coffers were fed by $271 billion in tax receipts, yet the government's expenditures soared to $567 billion—more than double the collected amount. These figures have pushed the federal deficit to the second highest on record, trailing only behind the extraordinary spending witnessed during the COVID-19 lockdowns….
US Tax Revenue Swallowed by Debt Interest: Debt interest payments have begun to consume a vast portion of income tax revenue, revealing a concerning imbalance in federal spending and income…
In a sobering assessment of the United States' fiscal health, recent data has revealed a concerning trend where federal government spending has vastly exceeded its tax revenue. Last month, the U.S. Treasury's coffers were fed by $271 billion in tax receipts, yet the government's expenditures soared to $567 billion—more than double the collected amount. These figures have pushed the federal deficit to the second highest on record, trailing only behind the extraordinary spending witnessed during the COVID-19 lockdowns….
2
Posted on 3/26/24 at 9:57 am to Toomer Deplorable
They have to be smarter than the average person. This has to be above the average Joes understanding, right? RIGHT?
Posted on 3/26/24 at 10:11 am to Toomer Deplorable
The Federal Govt. is receiving just over 5 Trillion dollars a year now in revenues. Of course we know there is a large deficit, but you can’t just look at income taxes as the reason.
Posted on 3/26/24 at 10:31 am to Purple Spoon
quote:
They have to be smarter than the average person.
Posted on 3/26/24 at 10:34 am to doubleb
quote:
The Federal Govt. is receiving just over 5 Trillion dollars a year now in revenues. Of course we know there is a large deficit, but you can’t just look at income taxes as the reason.
Lack of taxation certainly is not the issue here.
Posted on 3/26/24 at 10:37 am to Toomer Deplorable
We will be in full recession by June, but, and I say but, cause they have thrown so much money at propping everything up, that you can never be certain.
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