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Feds Tax $472 Billion in a Single Month… But What Are They Spending it On?

Will Donald Trump win the 2024 election?

The CBO released data last week confirming that federal taxes and spending continue to grow.

The Washington Times reports:

The federal government set a record tax haul in April, taking in nearly a half-trillion dollars in one month alone, according to Congressional Budget Office statistics released Thursday.

April is always a busy month with the tax deadline on April 15, but this year’s haul was historic, totaling $472 billion, far outstripping the previous monthly record, set last April, of $414 billion.

Is this money going to pay down the debt and deficit? Spoiler alert: NOPE.

Both taxes and spending are growing rapidly, at 9 percent and 7 percent, respectively.

The CBO said the biggest spending increases are in Medicare, Medicaid and Social Security — the big entitlement programs that are essentially on autopilot, with costs increasing as more poor, disabled and elderly people become eligible. Combined, they are up some $81 billion compared to the same time period from fiscal year 2014. Defense spending is down, dropping by nearly 4 percent.

The number one threat to America’s fiscal health right now is our bloated system of entitlement spending. Entitlement program inefficiency and abuse is bad for the economy, bad for the U.S. workforce, and ultimately, a threat to our national security.

Deneen Borelli

Deneen Borelli is the author of Blacklash: How Obama and the Left are Driving Americans to the Government Plantation. Deneen is a contributor with Newsmax Broadcasting. She is a former Fox News contributor and has appeared regularly on “Hannity,” “Fox & Friends,” “Your World with Neil Cavuto,” and “America’s Newsroom.” She has also appeared on Fox Business Network programs “Making Money with Charles Payne,” “The Evening Edit with Liz MacDonald,” and “Cavuto: Coast to Coast.” Previously, Deneen appeared on MSNBC, CNN, the BBC and C-SPAN. In addition to television, Deneen co-hosted radio programs on the SiriusXM Patriot channel with her husband Tom. Recently, Deneen co-hosted the Reigniting Liberty podcast with Tom. Deneen is a frequent speaker at political events, including the FreedomWorks 9.12.2009 March on D.C. which drew a crowd estimated at over 800,000 people. Deneen is also an Ambassador with CloutHub.com, a social media platform that promotes free speech, and with the America First Policy Institute (AFPI) which advances policies that put Americans first. Deneen testified before the U.S. House of Representatives Committee on Natural Resources in May 2011 and before the Ohio House Public Utilities Committee in December 2011. Previously, Deneen was a BlazeTV.com host, Outreach Director with FreedomWorks.org overseeing its Empower.org outreach program, a Project 21 Senior Fellow, and Manager of Media Relations with the Congress of Racial Equality (CORE). Prior to joining CORE, Deneen worked at Philip Morris USA for 20 years. During her corporate career at Philip Morris she worked in various positions, her last as Project Management Coordinator in the Information Management department where she was responsible for the department’s mandated quality processes, communications, sales information and database management. Deneen began her Philip Morris career as a secretary and advanced to positions of increasing responsibilities. Deneen worked full-time and attended classes at night for 11 years to earn her B.A. in Managerial Marketing from Pace University, New York City. Deneen served on the Board of Trustees with The Opportunity Charter School in Harlem, New York. She appeared in educational videos for children, worked as a runway fashion model, and auditioned for television commercials. Her interests include ancient history, pistol target shooting, photography, and volunteering at her church. Deneen currently resides in Connecticut with her husband Tom.

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