Feds Collect Record Taxes Through November; Still Run $305.4B Deficit

The federal government collected record total tax revenues of $458,653,000,000 in October and November, the first two months of fiscal 2019, according to the Monthly Treasury Statement released today. Even with these record tax collections, however, the government still ran a deficit of $305,394,000,000 for the first two months of the fiscal year. That is because while collecting a record $458,653,000,000 in taxes, the government spent $764,046,000,000. The record $458,653,000,000 in federal taxes in October and November of fiscal 2019 was up $5,280,090,000 from the $453,372,910,000 in total taxes (in constant November 2018 dollars) that the federal government collected in October and November of fiscal 2018...MORE