WEB Notes: As you can see, nothing changes from one administration to the next. Up, up and away goes the debt and the amount of interest we pay on it.
The US’ spending problem is starting to become a major issue.
According to the latest Monthly Treasury Statement, in June, the US collected $225BN in tax receipts – consisting of $110BN in individual income tax, $91BN in social security and payroll tax, $4BN in corporate tax and $20BN in other taxes and duties- a drop of 2.9% from the $232BN collected last July and a reversal from the recent increasing trend…
Source: US Spending On Interest Hits All Time High As Budget Deficit Soars To $684 Billion | Zero Hedge
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