3 ms·
You have a gap of .1 tn (a hundred billion dollars) of spend over revenue, implying an annual deficit of that amount. From what I read the Federal deficit was
by nugget 11y ago
You have a gap of .1 tn (a hundred billion dollars) of spend over revenue, implying an annual deficit of that amount.
From what I read the Federal deficit was >$400 billion in 2015 and the majority of states and municipalities seem to run either at neutral or a slight deficit.
What am I missing here or how does the math work out?
- roymurdock 11y agoI sourced spending data from http://www.usgovernmentspending.com/ http://www.usgovernmentspending.com/ and revenue data from http://www.usgovernmentrevenue.com/ http://www.usgovernmentrevenue.com/. Lots of good links and transparency wrt data sourcing (mostly from gov) and calculations of totals. In 2015 Federal spend was 3.8t and revenue was 3.2t, so there was a gap of -600bn there as you mentioned. States ran a surplus of 200bn and local ran a deficit of -400bn. Intergovernmental transfers amounted to 600bn. So the total deficit was -200bn (the top level numbers are rounded to one decimal place).