Fed spending soars in 2015; taxes spike

October 16, 2015

After several years of GOP-imposed constraints the federal government opened the spending floodgates again in 2015, setting a new record with outlays of $3.688 trillion in the just-ended fiscal year.

But the annual take from taxes grew even faster, hitting a record $3.249 trillion, to help lower the annual deficit to just $439 billion — the lowest rate of President Obama’s tenure, and lower than the hole President George W. Bush left in his last full year in office.


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