FEDS COLLECTING RECORD TAXES – AT 12:44 P.M. ET:    With the economy booming, the Federal treasury is doing quite well.  But we're still spending more than we take in.  From CNS:

(CNSNews.com) - The federal government collected a record $2,007,451,000,000 in total taxes through the first seven months of fiscal 2018 (October through April), but still ran a deficit for that period of $385,444,000,000, according to the Monthly Treasury Statement.

The record total federal taxes collected during this period also included a record $1,050,601,000,000 in individual income taxes—marking the earliest in any fiscal year that individual income taxes have topped $1 trillion.

But even while the Treasury was collecting its record $2,007,451,000,000 in total taxes from October through April, it was spending $2,392,896,000,000—thus, accumulating a deficit of $385,444,000,000.

In the month of April itself, the Treasury collected $510,440,000,000 in total taxes, while spending $296,192,000,000—thus, running a surplus for the month of April of $214,255,000,000. That monthly surplus decreased the fiscal-year deficit from the $599,708,000,000 it had been at the end of March to the $385,444,000,000 it hit at the end of April.

COMMENT:  Progress, but still not enough.  The growing economy will produce more and more revenue, but our spending policies are still undisciplined.  If the Dems get back in power, those policies will define what it means to raid the Treasury. 

We have a chance, with Trump, to put our fiscal house in order.  With the Dems, there is no chance.

May 11, 2018