Wall Street Mav|Jun 10, 2026 21:55
For May of 2026, the US govt collected $163 billion in personal and corporate income taxes.
The govt spent $132 billion in interest on the debt. 81% of all income taxes went to interest on the $39 trillion in debt.
For the full year:
$1.3 trillion interest
$3 trillion in personal and corporate income taxes.
So even with the government estimates they admit to (not counting off budget games) they are spending over 43% of all income taxes just on interest for the national debt.
Most of the things government actually pays for are being financed with new borrowed debt financing, over $2 trillion per year.(Wall Street Mav)
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