Tags: federal spending | President Donald Trump | former President Barack Obama

US Sees Highest Spending Since Obama's Stimulus

Image: US Sees Highest Spending Since Obama's Stimulus
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Friday, 20 October 2017 04:26 PM

Real federal spending in fiscal 2017 was the second highest in the history of the United States — topped only by 2009, when then-President Barack Obama's $840 billion stimulus law was enacted, the conservative Media Research Center's CNSNews.com reported.

Fiscal 2017 also saw the second highest real federal individual income tax totals of any year in U.S. history, the Monthly Treasury Statement reported Friday. Total federal tax revenues were the third highest in U.S. history.

Despite the tax money, the federal government ran a deficit of $665.7 million.

The GOP-controlled Congress enacted all federal spending legislation in fiscal years 2016 and 2017, CNSNews.com noted.

According to CNSNews.com, here's the breakdown:

– Total federal spending in fiscal 2017 was $3,980,605,000,000. Total federal tax revenue was $3,314,893,000.

– In fiscal 2009, real federal spending was $4,024,794,600,000 (adjusted using the Bureau of Labor Statistics inflation calculator)

– Federal individual income taxes hit their all-time peak in fiscal 2015, when the Treasury took in $1,598,265,180,000 in constant 2017 dollars in individual income taxes. In fiscal 2017, individual income tax collections hit $1,587,119,000,000, the second largest sum in individual income taxes the federal government has ever collected.

– Total federal tax revenue was $3,314,894,000,000 in fiscal 2017.

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Real federal spending in fiscal 2017 was the second highest in the history of the United States - topped only by 2009, when then-President Barack Obama's $840 billion stimulus law was enacted, the conservative Media Research Center's CNSNews.com reported.Fiscal 2017 also...
federal spending, President Donald Trump, former President Barack Obama
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2017-26-20
Friday, 20 October 2017 04:26 PM
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