The federal government would have run a $270 billion surplus in fiscal 2015 had federal spending merely returned to the level it was in fiscal 2008—the last fiscal year before President Barack Obama took office.
That is according to the official spending and revenue numbers published by the Treasury.
In fiscal 2008, according to the Treasury, the federal government brought in $2,523,642,000,000 in revenue and spent $2,978,440,000,000. It thus ran a deficit of $454,798,000,000.
In fiscal 2015, the government brought in a record $3,248,723,000,000 in revenue. That is $270,283,000,000 more than the $2,978,440,000,000 that the government spent in fiscal 2008.
But the federal government did not limit its spending to $2,978,440,000,000 in fiscal 2015. Instead it spent $3,687,622,000,000.
So, instead of having the surplus of $270,283,000,000 that it would have had in fiscal 2015 had it only spent as much as it spent in fiscal 2008, the government ran a deficit of $438,899,000,000.
Similarly, the federal government would have run a surplus of $41,931,000,000 in fiscal 2014—when it brought in $3,020,371,000,000 in revenue–had it held spending to the $2,978,440,000,000 level of fiscal 2008. Instead, the government spent $3,503,732,000,000 in fiscal 2014 and ran a deficit of $483,361,000,000
Read more: cnsnews.com
- Child Sex Slave Escapes Captor, But Now She is the One in Jail
- NO LOVE FOR TRUMP: Glenn Beck Calls Trump’s Wife a Lesbian Porn Star in Facebook Rant
- POLL: President Trump Wants to Expose Sexual Harassers in Congress — Do You Love This?
- Kathy Griffin Attacks Trump Again in Bizarre Video [WATCH]
- Chick Who Stole MAGA Hat from College Student is in Serious Trouble [VIDEO]
- The Best Scopes for Your Hunting Rifle
- 2yr-Old Beats Stage 4 Cancer with Breakthrough Treatment
- ‘YOU SHOULD HAVE STAYED IN AFRICA’: Group of Black People Taunt BIKINI-CLAD Woman, She Instantly Loses Her Sh*t [VIDEO]
- Bug out Guns: 7 Best Firearms for your Bug out Arsenal
- Japan Prepares for Mass Evacuation as Kim Jong-un Becomes More Unhinged
- Prostitute Shoots Man in the Head Because He Didn’t Know How to…
- WATCH: Off-Duty Police Officer Caught in Gun Fight While Holding His Young Child
- Newt Gingrich: ‘If Muslims Believe in Sharia Law They Should Be…’ Do You Agree?
- ‘Big Bang Theory’ Star Tells Muslim Women’s March Leader to Put a Sock In It After Saying THIS…
- ALERT: Mugabe ‘Resigns’ From Office
- Revealed: George Soros has Been Winning Small Political Victories That Can Jeopardize America
- NOT YOUR AVERAGE STREET FIGHT: Police Break Up Street Fight in UK involving AK47, Machine Gun and a Rocket Launcher
- GERMAN JIHADIST: Returns From Syria, Claims Multiple Attacks are Coming to…