The federal government through March collected a record $736.3 billion in individual income taxes, yet spent $599.7 billion more than it took in. What’s wrong with this picture?
The record tax collection was for the first six months of fiscal 2018 – from Oct. 1, 2017 through March 31, the Treasury says.
You would think, with the national debt climbing above $21 trillion, Congress would wake up to the fact that we are burying our grandchildren in debt. When will the members of that august body put the brakes on spending? At some point, the nation will be crushed by the burgeoning debt.