Without the details behind it I'm not drawing any conclusions. But if you think it's bad now, just wait until 4th quarter 2020 - when I start collecting my Social Security.
The federal government spent a record $3,355,970,000,000 in the first nine months of fiscal 2019 (October through June), according to the Monthly Treasury Statement released today.
Prior to this fiscal year, the most the federal government had ever spent in the October-through-June period was in fiscal 2018, when the Treasury doled out $3,199,795,700,000 in constant June 2019 dollars. Before last year, the most the federal government had ever spent in the first nine months of the fiscal year was in fiscal 2009, when it spent $3,176,577,910,000.
$3,355,970,000,000: Federal Spending Sets Record Through June; Deficit Hits $747,115,000,000
Prior to this fiscal year, the most the federal government had ever spent in the October-through-June period was in fiscal 2018, when the Treasury doled out $3,199,795,700,000 in constant June 2019 dollars. Before last year, the most the federal government had ever spent in the first nine months of the fiscal year was in fiscal 2009, when it spent $3,176,577,910,000.
$3,355,970,000,000: Federal Spending Sets Record Through June; Deficit Hits $747,115,000,000