‘Deficit Day’ Is No Cause to Celebrate as Spending Exceeds Taxes
The federal government will spend $7 trillion in 2025. That’s roughly $19 billion per day, or around $50 million in the time it takes to read this article. On the other side of the ledger, the government will collect $5.2 trillion in taxes. Careful readers will already see the problem. That $5.2 trillion dribbles …