Friday, January 13, 2017

Obama Hard Facts: Feds Collect $740,771,000,000 in Taxes in First 3 Months of FY17—But Spend $949,130,000,000 and Run $208,359,000,000 Deficit

 Pete Souza, The Obama-Biden Transition Project

This is hard cold numbers of the ineffectiveness of the Obama presidency. 
You NEVER hear this kind of news coming from ABC, CBS, or NBC who only sings his praises. 
CNS News reports the federal government collected $740,771,000,000 in taxes in the first three months of fiscal 2017 (October through December), according to the Monthly Treasury Statement released today.
But at the same time, it spent $949,130,000,000—thus running a deficit of $208,359,000,000.

The $75,731,000,000 in corporation income taxes paid by businesses in the United States in the first three months of the fiscal year was 8.6 times the $8,812,000,000 paid in customs duties on foreign imports.

The overall $740,771,000,000 in tax revenues that the Treasury collected during the October-through-December period also did not set a record for federal tax revenues in the first three months of the fiscal year.

More here