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Fairfax Underground
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Re: Trump and GOP Continue Record $24 US Debt- What Happened?
Posted by:
Largest Debt in US history
()
Date: November 12, 2019 11:28AM
The U.S. government's public debt is now more than $22 trillion — the highest it has ever been. The Treasury Department data comes as tax revenue has fallen and federal spending continues to rise.
Re: Trump and GOP Continue Record $24 US Debt- What Happened?
Posted by:
best economy since Clinton
()
Date: November 12, 2019 12:27PM
As always when dems control the House, massive government omnibus bills that increase spending by 7% every year drive up the deficit. It. Happens. Every. Time.
Meanwhile, federal income tax revenue was up for FY19 by $110 billion over FY18.
Trump went crazy with defense spending his first two years. Some of that was to rebuild what Obama left in shambles, but some was shiny new stuff. Increased military spending accounted for almost $250 billion for FY18 and 19.