We don’t have a revenue problem, we have a spending problem

CNS News reports, "The federal government collected a record $3,586,456,000,000 in total taxes through first eleven months of fiscal 2021 (September through August), according to the Monthly Treasury Statement.

The federal government also collected a record $1,829,589,000,000 in individual income taxes in the September-through-August period.

However, because the federal government also spent $6,297,090,000,000, the Treasury still ran a deficit of $2,710,635,000,000.

We don’t have a revenue problem, we have a spending problem. In the middle of a worldwide pandemic, despite all the challenges we are facing, and we are still collecting record taxes ???

Federal Tax Collections Set Record Through August https://t.co/ic0vjuQjcm — Rep. Nancy Mace (@RepNancyMace) September 14, 2021

When the September-through-August spending numbers for prior fiscal years are adjusted for inflation into July 2021 dollars (the latest month the Bureau of Labor Statistics inflation calculator will adjust them to), this September-through-August spending was the second highest ever.

The $6,358,959,120,000 (in constant July 2021 dollars) that the federal government spent in the September-through August period last year remains the highest ever."