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Borrowing Was the Single Biggest Revenue Source for Uncle Sam Late Last Year

Here’s another depressing data point to confirm that we have a borrow-and-spend psychopath in the White House. In the last quarter of FY2023 — the most recent quarter for which we have complete data — the federal government took in more money from borrowing than any other revenue source. Here are the numbers as compiled by our friend Sven Larson, an economist who writes for the European Conservative:

4th Quarter fy2023 Revenues

    • Federal borrowing $835 billion
    • Personal income taxes: $521 billion
    • Social insurance taxes: $430 billion
    • Corporate income taxes: $113 billion
    • Taxes on production and imports: $44 billion
    • Other sources: $39.2 billion


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