2017-10-06 — sovereignman.com
.. the federal government's [FY 2017] cash deficit was $865 billion... And, again, that number would have been even worse if not for the debt ceiling that legally froze the national debt in place.
Just like in 2016 (where the cash deficit was $1 trillion), this past fiscal year saw no major recession. No full-scale war. No financial crisis or bank bailout. It was just another year... business as usual. And yet they still managed to overspend by nearly $1 trillion, with costs exceeding revenue by more than 20% (just like the French in 1788).
Congress has already put forward a new spending bill for this Fiscal Year-- another 4+ trillion, not including any emergency spending that might arise (like hurricane relief, for example).
So we're already looking at another nearly $1 trillion loss for the coming fiscal year, especially given that there's almost no growth to tax revenue.
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