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U.S. Gov’t Spent More Than Eight Times Its Monthly Revenue

April 5, 2011

What is it going to take for the lib/dems to wake up and realize that this is NOT sustainable?

I wonder if we are already past the point of no return.. 

 

CNS News

During the month, according to the Treasury, the federal government grossed $194 billion in tax revenue and paid out $65.898 billion in tax refunds (including $62.011 to individuals and $3.887 to businesses) thus netting $128.179 billion in tax revenue for March.

At the same, the Treasury paid out a total of $1.1187 trillion. When the $65.898 billion in tax refunds is deducted from that, the Treasury paid a net of $1.0528 trillion in federal expenses for March.

That $1.0528 trillion in spending for March equaled 8.2 times the $128.179 in net federal tax revenue for the month.

More here.

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