CBO: Feds Taxing More, Spending More, Running Bigger Deficit in 2015

Cybercast News Service ^ | April 13, 2015 - 1:21 PM | Terence P. Jeffrey

[Olog-hai]

The federal government taxed away more money, spent more money and ran a bigger deficit in the first half of fiscal 2015 than it did in the first half of fiscal 2014, according to the Congressional Budget Office.

“The federal government ran a budget deficit of $430 billion for the first half of fiscal year 2015, CBO estimates—$17 billion more than the shortfall recorded in the same span last year,” the CBO said in its Monthly Budget Review for March 2015, which was published April 8. “Both revenues and outlays were about 7 percent higher than the amounts recorded in the first six months of fiscal year 2014.”

The federal fiscal year begins on Oct. 1 and ends on Sept. 30. […]

The biggest source of additional tax revenue for the federal government was the individual income tax. In the first six months of fiscal 2014, Americans paid the federal government approximately $585,000,000,000 in individual income taxes. In the first six months of fiscal 2015, Americans paid $642,000,000,000 in individual income taxes—an increase of $57 billion (or 9.7 percent) from fiscal 2014. …

[Olog-hai]

. . . while we wait for the GOP-e to “show the American public that we can govern”, whatever that means . . .

[hosepipe]

........... AND it's far from over, give it UP......(this is fun).....

[DJ Frisat]

"The federal government taxed away more money, spent more money and ran a bigger deficit in the first half of fiscal 2015 than it did in the first half of fiscal 2014..."

I'm shocked! Stuned, even....