Federal Tax Revenues Set Record Through May; Feds Still Running $436B Deficit

[Freewill]

Honestly folks, could you run you house this way? I also thought the mantra during Bush was that the wars were running up the debt? Lied to again?

Federal Tax Revenues Set Record Through May; Feds Still Running $436B Deficit

(CNSNews.com) - Federal tax revenues continue to run at a record pace (in inflation-adjusted dollars) in fiscal 2014, as the federal government’s total receipts for the fiscal year closed May at an unprecedented $1,934,919,000,000, according to the Monthly Treasury Statement.

Despite record revenue, the federal government still ran a deficit of $436.382 billion in the first eight months of the fiscal year, which began on Oct. 1, 2013 and will end on Sept. 30, 2014.

 

[waltky]

Granny sez dem politicians got more money n' God - an' we's still broke...

$2.46T: Tax Revenues for FY14 Hit Record Through July--Gov't Runs $460B Deficit
August 13, 2014 -- Inflation-adjusted federal tax revenues hit a record $2,469,178,000,000 for the first 10 months of the fiscal year this July, but the federal government still ran a $460,450,000,000 deficit during that time, according to the Monthly Treasury Statement.

Each month, the Treasury publishes the government’s “total receipts,” including all revenue from individual income taxes, corporate income taxes, social insurance and retirement taxes (including Social Security and Medicare taxes), unemployment insurance taxes, excise taxes, estate and gift taxes, customs duties, and “miscellaneous receipts.” In constant 2014 dollars, the $2,469,178,000,000 that the federal government collected from October through July in fiscal 2014 was $129,126,250,000 more than the $2,340,051,750,0000 it collected in October through July in fiscal 2013.

The Treasury has been tracking these data since 1977 and at that time the federal government collected $1,142,724,890,000 in inflation-adjusted revenue in the first 10 months of fiscal 1977. This means that since then, revenues have more than doubled, increasing by 116.1 percent. After the current fiscal year, the second highest federal tax intake in the first 10 months of a fiscal year occurred in the first 10 months of fiscal 2007, when the government collected $2,432,115,460,000 in 2014 dollars – or $37,062,540,000 less than in the first 10 months of this fiscal year.

The first half of fiscal 2007 ran from Oct. 1, 2006 through March 31, 2007. The last recession hit in December 2007 and ended in June 2009. Although the federal government brought in a record of approximately $2,469,178,000,000 in revenue in the first 10 months of fiscal 2014, according to the Treasury, it also spent approximately $2,929,628,000,000, leaving a deficit of approximately $460,450,000,000.

$2.46T: Tax Revenues for FY14 Hit Record Through July--Gov't Runs $460B Deficit | CNS News

 

[PaintMyHouse]

Honestly folks, could you run you house this way?

How lucky for us, that our nation isn't mommy's checkbook. Learn economics...

 

[Billy000]

Honestly folks, could you run you house this way? I also thought the mantra during Bush was that the wars were running up the debt? Lied to again?

Federal Tax Revenues Set Record Through May; Feds Still Running $436B Deficit

(CNSNews.com) - Federal tax revenues continue to run at a record pace (in inflation-adjusted dollars) in fiscal 2014, as the federal government’s total receipts for the fiscal year closed May at an unprecedented $1,934,919,000,000, according to the Monthly Treasury Statement.

Despite record revenue, the federal government still ran a deficit of $436.382 billion in the first eight months of the fiscal year, which began on Oct. 1, 2013 and will end on Sept. 30, 2014.

You cons have serious trouble understanding economics. Measuring raw dollars is not how you accurately compute revenue. Inflation and the size of the economy must be taken into account. In order to get an accurate measure of revenue, you must compute it as the percentage of GDP. Right now, the percentage of GDP is around 16% of GDP. In 2000, the percentage of GDP was 20% which was healthy for the economy. Bush's awful tax cuts sank it to 15%.

Computing receipts of federal revenue as a measurement is completely misleading. An all time high of raw dollars means dick. Believe it or not, revenue is low.

 

[Care4all]

Coming from a $1.5 trillion dollar running yearly deficit down to $436 billion running deficit in such a short time is honestly much better than I ever expected!

 

[ScienceRocks]

You won't be happy until all of our bridges, schools and science programs all fail.

Fuck you freewill.

 

[francoHFW]

OP- And about 400 billion of that is extra UE, welfare, and other assistance for victims of the corrupt Bush world depression. Debt as percentage of GDP IS GOING DOWN. WITH NO PHONY PUB CRISES, THERE'S AN ACTUAL RECOVERY...

 

[Youch]

Honestly folks, could you run you house this way? I also thought the mantra during Bush was that the wars were running up the debt? Lied to again?

Federal Tax Revenues Set Record Through May; Feds Still Running $436B Deficit

(CNSNews.com) - Federal tax revenues continue to run at a record pace (in inflation-adjusted dollars) in fiscal 2014, as the federal government’s total receipts for the fiscal year closed May at an unprecedented $1,934,919,000,000, according to the Monthly Treasury Statement.

Despite record revenue, the federal government still ran a deficit of $436.382 billion in the first eight months of the fiscal year, which began on Oct. 1, 2013 and will end on Sept. 30, 2014.

The government leviathan, which has not the best interests of it's citizens in mind, needs constant and increasing feeding, which ultimately can only be taken from the citizens themselves. Libs don't know, care or agree with this truism, much to all our detriment.

 

[francoHFW]

^^ Hater Pub dupe who has been brainwashed into hating gov't, allowing megarich Pub hypocrites/a-holes to rob the country blind...

 

[Mad Scientist]

You won't be happy until all of our bridges, schools and science programs all fail.

Fuck you freewill.

Obama said our schools and infrastructure are the best in the world. rdean even made a thread about it.

 

[The Rabbi]

Honestly folks, could you run you house this way? I also thought the mantra during Bush was that the wars were running up the debt? Lied to again?

Federal Tax Revenues Set Record Through May; Feds Still Running $436B Deficit

(CNSNews.com) - Federal tax revenues continue to run at a record pace (in inflation-adjusted dollars) in fiscal 2014, as the federal government’s total receipts for the fiscal year closed May at an unprecedented $1,934,919,000,000, according to the Monthly Treasury Statement.

Despite record revenue, the federal government still ran a deficit of $436.382 billion in the first eight months of the fiscal year, which began on Oct. 1, 2013 and will end on Sept. 30, 2014.

You cons have serious trouble understanding economics. Measuring raw dollars is not how you accurately compute revenue. Inflation and the size of the economy must be taken into account. In order to get an accurate measure of revenue, you must compute it as the percentage of GDP. Right now, the percentage of GDP is around 16% of GDP. In 2000, the percentage of GDP was 20% which was healthy for the economy. Bush's awful tax cuts sank it to 15%.

Computing receipts of federal revenue as a measurement is completely misleading. An all time high of raw dollars means dick. Believe it or not, revenue is low.

Yes if you take in more money it's really less.
The BRave New World of Billytriplezilch.

 

[The Rabbi]

Honestly folks, could you run you house this way? I also thought the mantra during Bush was that the wars were running up the debt? Lied to again?

Federal Tax Revenues Set Record Through May; Feds Still Running $436B Deficit

(CNSNews.com) - Federal tax revenues continue to run at a record pace (in inflation-adjusted dollars) in fiscal 2014, as the federal government’s total receipts for the fiscal year closed May at an unprecedented $1,934,919,000,000, according to the Monthly Treasury Statement.

Despite record revenue, the federal government still ran a deficit of $436.382 billion in the first eight months of the fiscal year, which began on Oct. 1, 2013 and will end on Sept. 30, 2014.

The government leviathan, which has not the best interests of it's citizens in mind, needs constant and increasing feeding, which ultimately can only be taken from the citizens themselves. Libs don't know, care or agree with this truism, much to all our detriment.

"The federal government is like a baby: a big appetite on one end and no control on the other." -Reagan.

 

[Avorysuds]

Now take out the taxes collected from the trillion a year the FED's have been pumping into the system and that deficit would already be well over 1 trillion.

It's all fake. If the economy were so strong the FED-R would have tapered.... years ago.