Up to $895B in a growing economy. Starving the beast? Paging Pure Alpha!
What happened: Excluding timing shifts, outlays grew 8%, as the net interest on public debt jumped 25%, defense spending jumped 10%, outlays for Social Security grew 5%, and outlays for Medicare benefits rose 7%. There also was an Agriculture Department downward adjustment made in the year-ago August. One boost to government finances was an increase in spectrum payments to the Federal Communications Commission.
Receipts fell by 3%, with corporate taxes dropping by $5 billion, while revenue from income and payroll taxes rose marginally.
The big picture: The budget deficit is widening in a big way. In the first 11 months of the fiscal year, the deficit was $895 billion, which is $222 billion more than the previous year. Outlays have climbed 7% while revenue rose 1%.
Insane to think they’re dropping nearly as much stimulus on the market now as they were in 2008/2009/2010. If you can’t balance the budget with a 4% unemployment rate when can you?
C’mon man - wouldn’t you rather serve king trump vs the queen? Join the bros club and team america … you know you want to leave the proper common wealth and join the fun rebels
