This is a healthy reminder that virtually nobody in Washington is competent to run a budget. Remember this when they talk about taking over even more parts of our lives.
The sea of red ink is getting deeper and deeper in Washington, with the federal government already racking up a budget deficit that is averaging close to $100 billion a month.
Treasury Department data released Wednesday show the shortfall at $389.2 billion in the first four months of fiscal 2020. That’s a 25% gain over the same period last year and already about 40% of the total deficit for fiscal 2019.
Over the past 12 months, the government has spent $1.06 trillion more than it has taken in. All the red ink has bought the total national debt to $23.3 trillion.
Receipts actually are on the rise comparatively, coming in at $1.18 trillion through January compared with $1.1 trillion a year earlier.
However, the rate of spending is adding to the shortfall, with outlays coming in at $1.57 trillion vs. $1.42 trillion for the first four months in fiscal 2019. That’s a 9.6% spending increase.
The biggest disappointment in President and the GOP.
But if the Democrats were in total control, it would be much worse.
Good post. These democrats want to blow budget out even worse!
Doesn’t look like there is any historical evidence of that in the past 40 years. Tell us where you get your information. Thanks
Or did you make it up?
Have you listened at all to Bernie? Have you been introduced to the national debt?
You are awful, feigning ignorance about Democrat spending blowout plans.
Sure have. And there is still no evidence of your claim.
Looks like you have the ignorance problem. Did you even bother to look at what Pat provided?
Pat provided one tiny myopic viewpoint. Look instead at control of House of Reps and Senate. There is correlation with big deficits and D’s controlling one or both houses. All Pat’s post does is reinforce what the adults have said for years… that the President really has little to do with Deficit.
Politifact is awful partisan puke like pmsnbc and cnn, I did not even look at it.
Lets talk legitimate sourcing and we can have a real discussion about your possible drug fueled fantasies where Democrats are real fiscal conservatives
Looks like for you the old saying is true, “ignorance is bliss”.
“ Politifact is awful partisan puke like pmsnbc and cnn, I did not even look at it.“
What did they get wrong?