…the federal government ran a deficit of $668,267,000,000. That is because the government spent $2,790,254,000,000 during the period.
Abstracted:
The record $2,121,987,000,000 in total taxes that the Treasury collected in the first half of this fiscal year included
- $1,124,485,000,000 in individual income taxes;
- $697,779,000,000 in social insurance and retirement taxes;
- $127,259,000,000 in corporation income taxes;
- $48,559,000,000 in customs duties;
- $38,712,000,000 in excise taxes;
- $14,275,000,000 in estate and gift taxes; and
- $70,917,000,000 in what the Treasury calls “miscellaneous receipts.”
(H/T: CNSNews)
