$240,418,000,000: Feds Collect Record Taxes in May; Still Run $88,246,000,000 Deficit

The U.S. Treasury hauled in $240,418,000,000 in total taxes in the month of May, setting a record for inflation-adjusted tax revenues for that month of the year, according to the Monthly Treasury Statement released this week.

Despite these record revenues, however, the federal government still ran a deficit of $88,426,000,000 in May—because it spent $328,844,000,000 in the month.

In the first eight months of fiscal 2017 (October through May), the federal government hauled in $2,169,160,000,000 in total taxes and spent $2,602,013,000,000—thus, running a deficit of $432,853,000,000. Fiscal 2017 will end on Sept. 30, 2017. CNS NEWS

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