Federal Spending Sets Record Through December

(Photo by Mark Wilson/Getty Images)

(CNSNews.com) – The federal government spent a record $1,376,269,000,000 in the first three months of the fiscal year (October through December), according to the Monthly Treasury Statement released today.

The record $1,376,269,000,000 the federal government spent in the first three months of fiscal 2021 was $197,337,650,000 more than the $1,178,931,350,000 (in constant December 2020 dollars) that the federal government spent in the first three months of fiscal 2020.

Federal Spending Sets Record Through December

At the same time the federal government was spending its record $1,376,269,000,000 in the first three months of the fiscal year, it ran a deficit of $572,899,000,000. That was the second-highest-ever October-December deficit, following the record deficit of $585,237,550,000 (in constant December 2020 dollars) that the federal government ran in the first three months of fiscal 2009.

In October through December, the federal government brought in $803,370,000,000 in total taxes and then spent $1,376,269,000,000—resulting in the deficit of $572,899,000,000.

The Department of Health and Human Services spent the most money of any federal department in the first three months of the fiscal year. It spent $356,639,000,000 in October through December.

The Social Security Administration spent the second most, with expenditures of $321,748,000,000. The Department of Defense-Military Programs spent the third most, with expenditures of $195,059,000,000.

The business and economic reporting of CNSNews.com is funded in part with a gift made in memory of Dr. Keith C. Wold.

Federal Spending Sets Record Through December

 
 
Federal Spending Sets Record Through December