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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