Wednesday, October 05, 2016

The "REAL" Federal Deficit for Fiscal 2016


For the fiscal year ended September 30, 2016, our government states the federal deficit was $590 billion.  That is, of course, the federal government spent $590 billion more than it took in for the fiscal year. By all accounts, the amount of tax revenue taken in by the federal government was a record. Our government simply cannot live within its “financial means.”  But wait, the federal deficit was a whole lot worse than the reported $590 billion.  Why?  Simply take a look at the total national debt on September 30, 2016 and compared it to September 30, 2015.  On September 30, 2016, the total national debt was $19,573,444,713,936. On September 2015, the total national debt was $18,150,617,666,484.  The difference of $1,422 trillion is the “REAL FEDERAL DEFICIT,” not the $590 billion. 

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