Connect with us

News

The Economy is Booming, But So is Federal Spending

The Trump administration is certainly making a lot of waves in Washington, but does someone need to tighten their purse strings?

While President Trump has been widely lauded for his work on the American economy, a stark reminder of our federal bloat has now arrived.

Trump’s entrance to the political world has been a whirlwind over the course of the last two years, with a number of federal programs being initiated, coming under the ax, or simply finding themselves on the receiving end of a Trump tweet storm.  All of these instances move the needle on federal spending, of course, something that a great many Americans would like to see decreasing instead.

The federal government spent $1,822,712,000,000 in the first five months of fiscal 2019, the most it has spent in the first five months of any fiscal year since 2009, which was the fiscal year that outgoing President George W. Bush signed a $700-billion law to bailout the banking industry and incoming President Barack Obama signed a $787-billion law to stimulate an economy then in recession.

Trending: Mitt Romney Goes On Record, Says He Won’t Be Endorsing President Trump In 2020 (Details)

How unique is the predicament?

take our poll - story continues below

Would more gun control laws reduce mass shootings in America?

  • Would more gun control laws reduce mass shootings in America?  

  • This field is for validation purposes and should be left unchanged.
Completing this poll grants you access to Liberty Hub updates free of charge. You may opt out at anytime. You also agree to this site's Privacy Policy and Terms of Use.

The last time the Treasury spent more than that in the first five months of a fiscal year—in inflation-adjusted constant February 2019 dollars—was fiscal 2009. That year, the Treasury spent $1,936,268,470,000.

Fiscal 2009 started with President Bush signing the Troubled Asset Relief Program into law on Oct. 3, 2008; it continued with President Obama, after his January inaugural, signing the American Recovery and Reinvestment Act on Feb. 17, 2009.

Will the GOP be able to steer America’s federal government back into the black anytime soon, or will trillion dollar bills such as the “Green New Deal” find their way back on the table?

We can only wait and see.

Become an insider!

Sign up for our free email newsletter, and we'll make sure to keep you in the loop.

You Might Like

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please hover over that comment, click the ∨ icon, and mark it as spam. Thank you for partnering with us to maintain fruitful conversation.

You Might Like

WHOA! Ilhan Omar Says Even the ‘Existence’ of Israel’s Prime Minister Is Problematic [Details]

News

WATCH: Women’s Soccer Fans Boo Armed Forces Enlistees Over Oath to Obey POTUS

News

New York Times Deletes Kavanaugh Smear After Learning ‘Victim’ Does Not Recall Incident

News

Kamala Harris & Two Other 2020 Democrats Are Now Calling for Kavanaugh’s Impeachment [DETAILS]

News