U.S. Government Sets New Records for Spending and Revenues

The U.S. government set new records for spending and tax revenues in July 2019. But because spending has risen so much faster than its tax collections, the latest U.S. Treasury monthly statement also confirms that the government’s budget deficit through the first 10 months of its 2019 fiscal year now exceeds the full year deficit of $777 billion recorded in 2018.
Terence Jeffrey of CNS News describes how today’s spending compares with the previous record for inflation-adjusted government spending, which was set back in 2009:
The federal government spent a record $3,727,014,000,000 in the first ten months of fiscal 2019 (October through

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