$2.46T in Tax Revenues for FY14 already

[Sooner in Tampa]

Holy Crickey...and it's still not enough!! (http://www.cnsnews.com/news/article/ali-meyer/246t-tax-revenues-fy14-hit-record-through-july-govt-runs-460b-deficit)


Inflation-adjusted federal tax revenues hit a record $2,469,178,000,000 for the first 10 months of the fiscal year this July, but the federal government still ran a $460,450,000,000 deficit during that time, according to the Monthly Treasury Statement.

[REDREX]

Do you think we could have a spending problem?--------Food for thought

[pphilfran]

Why so shocked? They projected 3 trillion in revenue...and 649 billion in the red...

Last year we had 2.775 trillion in rev...680 billion in the red...

From here on out they project red ink at 500 billion a year...

Also, starting next year off budget revenue (SS Trust) will be dried up and will actually go negative n 2017... a hundred billion dollar swing, at least...

Table 1.1 http://www.whitehouse.gov/omb/budget/Historicals

[pphilfran]

A far better way to look at the numbers is to use % of GDP

Same link but table 1.2

Revenue in 2014 is expected to be at 17.3% of GDP, slightly below the long term average....deficit of 3.7% of GDP....higher than the historical average...

Deficits ahead average around 2.5% of GDP...still higher than the norm....only recessionary years top 2.5%

[olevetonahill]

https://www.youtube.com/watch?v=J6TcpfBHlbs