According to the Monthly Treasury Statement released on Friday, the real federal spending in the fiscal year 2017 (which by the way ended on September 30th) was the highest in US history, except for 2009, the year when former President Barrack Obama enacted the now-famous stimulus law that made for $840 billion dollars of stimulus money to be injected into the banking system in order to mitigate the global financial crisis.
The fiscal year 2017 also made for the 2nd highest year in US history with regard to real federal individual income tax totals. Moreover, the total federal tax revenues in 2017 were the 3rd highest in United States history. Basically, the Federal Government collected a lot of money, yet it still ran a huge deficit of $665,712,000,000 (almost 666 billion dollars) due to the increase in total spending.
The House of Representatives is under GOP control for 6 years now, since 2011, while the Senate is controlled by the Republicans since 2015. The fiscal years 2016 and 2017 are completely owned by the GOP, as they’ve controlled both houses, i.e. they were responsible for enacting/enabling all federal-spending bills/legislation.
According to the US Treasury, the total federal tax revenue in 2017 was 3,314,893,000,000 while the total federal spending in fiscal year 2017 was $3,980,605,000,000, which makes for the $666 billion deficit. Prior to 2017, the real federal spending reached its peak in 2009 ($4,024,794,600,000 in adjusted dollars).
What are these figures telling us? It’s pretty straight forward: reckless spending on wars and bureaucracy to nowhere, devaluation of our currency and an unending increase in inflation due to printing money out of thin air knows no particular party – they both are corrupt.
It’s a sad reality that federal spending increases as the federal tax income increases. Tax cuts should prompt spending cuts. That’s the whole reason for doing tax cuts in the first place.
Conservative voters were on a fool’s errand when they believed RINOS could actually walk the fiscal walk rather than just talking the talk. All blather, no lather indicating hard work accomplished. And there are still people running around telling me the Government should take care of things. Pure insanity.
We also need to lay some of the blame on those who demand more and more from the Federal government. The politicians tend respond to the notion that if they truly sought budget/spending reform and cut some of the social programs then they would lose the next election.