$3.22 Trillion: Federal Programs That ‘Transfer Income’ Projected to APPROACH TOTAL TAX RECEIPTS
(From CNSNews)
At the same time the federal government will be spending a record amount on “programs designed to transfer income,” according to the OMB’s estimates, it will also be setting a record in overall spending while running up a record debt — despite bringing in record tax revenues.
This fiscal year, according to the OMB’s Table 1.1, the federal government will haul in $3,644,772,000,000 in total tax revenue, push out $4,745,573,000,000 in total spending and run a deficit of $1,100,801,000,000.
http://www.againstcronycapitalism.org/
Source: https://www.ac2news.com/2019/10/3-22-trillion-federal-programs-that-transfer-income-projected-to-approach-total-tax-receipts/
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