The U.S. Department of Commerce has released the deficit figures for the first three months of fiscal year 2015, and these numbers show that the current administration clearly has boosted spending in a number of ways:
- During the first three months of fiscal year 2015, the federal government ran a deficit of $177 billion. This is a 2% increase over the same time frame last year.
- The government spent a total of $333 billion in December alone, almost doubling the amount spent in December of the previous year.
- Total spending for the fiscal year to date is $916 billion, a 9% increase over the first quarter spending from fiscal year 2014.
- The government has collected $335 billion in taxes during the last three months. This is an 18% increase over the same time frame last year.
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fiscal year 2015, government spending, skyrocketing deficits