Marc Mensa
You'll Get Nothing and Like It

Posts: 16,312
Joined: Mar 2004
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I Root For: The Underdog
Location: Samaria
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Federal Budget Deficit up 79% in July 2018 compared to July 2017
#winningoncredit...lotsofcredit
https://www.marketwatch.com/story/federa...2018-08-10
What happened: Receipts fell 3% compared to last July, with the government getting less money from both corporations and individuals in the wake of the new tax law. Corporate revenues were down 34% as companies enjoyed a reduced 21% tax rate. And individuals continued to send fewer tax dollars to the Treasury, after lower withholding from paychecks took effect in February. President Donald Trump signed the law in December.
Spending, meanwhile, jumped by 10% in July as the government shelled out more for programs across the board. Interest payments on the public debt jumped by 41% in the month.
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| 08-20-2018 04:27 PM |
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