JANE BURGERMEISTER REPORT:US DEBT ORGY: GOVERNMENT SPENT EIGHT TIMES MORE THAN ITS TAX REVENUE IN MARCH

16 April 2011

US DEBT ORGY: GOVERNMENT SPENT EIGHT TIMES MORE THAN ITS TAX REVENUE IN MARCH Jane Burgermeister | April 15, 2011 at 5:30 pm | Categories: Uncategorized | URL: http://wp.me/puNtl-1bD

– US Government Spent More than Eight Times its Monthly Revenue

– US Govermnent paid $1.0528 trillion in monthly bills on only $128.179 in monthly tax revenue

Roni Deutsch blog

According to new data from the Treasury Department, the federal government grossed $194 billion in March, paid out nearly $66 billion in refunds, netting $128 billion in tax revenue. However, the Treasure paid out a total of $1.1187 trillion in federal expenses.

From CNS News.com:

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

The lion’s share of this federal spending went to redeem Treasury securities that had matured during the month—most of which were short-term Treasury bills that have terms of one-year or less. Read more of this post