Federal Tax Receipts Are Tanking But Federal Spending Isn’t
The U.S. government ran a surplus in April, as it generally does in tax return month. But federal tax revenues collapsed year-on-year and the fiscal 2023 deficit is still close to $1 trillion with five months to go despite the small April windfall. Meanwhile, the...
Omnibus Shows Congress’s Priorities: Authoritarianism and War
Those hoping for a Christmastime government shutdown were once again disappointed when Congress passed a 4,000-page, $1.7 trillion omnibus appropriations bill that few, if any, Representatives and Senators read before voting on. The Republican leadership celebrated...
A Pandemic of Spending: Federal Government Runs Another Big Deficit
Even with the federal government’s head against the debt ceiling and federal agencies ostensibly trying to limit spending, the U.S. government managed to run another massive deficit in November. The budget shortfall last month was $191.34 billion, according to...