It’s the Spending, Stupid!

Following the release of the U.S. Treasury’s monthly statement for May 2018, the Wall Street Journal has some grim news about the U.S. government’s fiscal situation:
The U.S. government’s budget deficit widened in the first eight months of the fiscal year, reflecting lower revenue from corporate taxes combined with ramped-up government spending.
The deficit, or the difference between the amount of money the federal government spent and what it took in, totaled $532.24 billion in October through May, the Treasury Department said Tuesday. That was 23% more than the deficit of $432.85 billion during the same period a year earlier.
Comparing the U.S.

Read more at The Independent Institute