K-12 Tax & Spending Climate: $1,185,613,000,000: Federal Taxes Hit Record Through February; Gov’t Still Runs $386B Deficit
In constant 2015 dollars, the $1,185,613,000,000 that the federal government collected from October through February in fiscal 2015 was $94,803,620,000 more than the $1,090,809,380,000 it collected in October through February in fiscal 2014.
That $1,090,809,380 that the federal government brought in in October through February of fiscal 2015 is now the second-highest-ever federal tax intake through February.
Although the federal government brought in a record of approximately $1,185,613,000,000 in revenue in the first five months of fiscal 2015, according to the Treasury, it also spent approximately $1,572,149,000,000—leaving a deficit of approximately $386,537,000,000.
