The federal government set records for the amount of money it spent and the size of the deficit it ran up in the first ten months of fiscal 2020 (October through July), according to data released today in the Monthly Treasury Statement.
In fact, the $5,630,859,000,000 the federal government spent in the first ten months of this fiscal year is more than the government has ever spent in any previous full fiscal year…From October through July of this fiscal year, while the government was spending that record of $5,630,859,000,000, it collected $2,823,564,000,000 in taxes. As a result, it ran a deficit of $2,807,295,000,000.
(H/T: CNSNews)
