Federal Tax Revenues have exceeded interest payments 20-fold—since U.S. hit debt limit

The actual accounting done by the U.S. Treasury Department shows that federal tax revenues have exceeded interest payments on the federal debt by 20-fold since the Treasury announced on May 16 that the federal government had hit the current legal limit on the national debt.  In fact, since the government hit the debt limit on May 16, the ongoing flow of federal tax revenue has been more than sufficient to cover the combined costs of federal spending on interest payments, Medicare, Medicaid, Social Security, the Veterans Affairs department and federal workers wages and insurance benefits (including wages and insurance benefits for military personnel).  Read more at



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