July 14, 2017

SUSTAINABILITY: Monthly Federal Spending Tops $400B for First Time.

Real monthly federal spending topped $400 billion for the first time in June, when the Treasury spent a record $428,894,000,000, according to the Monthly Treasury Statement released today.

Prior to June, the record for federal spending in a single month was held by March 2017, when the Treasury spent approximately $392,816,000,000.

In August 2012, the Treasury spent $392,408,410,000 in constant 2017 dollars

As the Treasury was spending a record $428,894,000,000 in June it was taking in approximately $338,660,000,000 in taxes—thus, running a deficit for the month of $90,233,000,000.

Washington has added more than $500 billion in new debt so far this fiscal year — absent an economic downturn or a major war.