On Wednesday, CNS News posted an article about the income and revenue of the federal government from October 2019 to January 2020.
The article reports:
The federal government set records for both the amount of taxes it collected and the amount of money it spent in the first four months of fiscal 2020 (October through January), according to data released today in the Monthly Treasury Statement.
So far in fiscal 2020, the federal government has collected $1,178,800,000,000 in total taxes.
The previous high for total federal taxes collected in the first four months of the fiscal year came in fiscal 2018, when the Treasury collected $1,172,088,080,000 in constant December 2019 dollars.
While the federal government was collecting that record $1,178,800,000 in federal taxes in October through January of this fiscal year, it was spending a record total of $1,567,985,000,000.
…In the first four months of this fiscal year—while collecting a record $1,178,800,000,000 and spending a record $1,567,985,000,000—the federal government ran a deficit of $389,185,000,000.
The Department of Health and Human Services led all federal agencies in spending in the first four months of fiscal 2020 with outlays of $443,759,000,000. The Social Security Administration was second with $380,623,000,000 in spending. The Defense Department and Military Programs was third with $237,702,000,000.
Spending is controlled by the House of Representatives. It is our responsibility to elect representatives who will cut spending. This has nothing to do with what political party a person belongs to–it has to do with whether or not they are willing to take steps to cut government spending. It has to do with campaign contributions that encourage the spending. It’s time to hold Congress accountable. If we don’t get government spending under control, we will be carrying briefcases of cash to the grocery store because the value of our dollars will crash.