Real federal spending in fiscal 2017, which ended on Sept. 30, was higher than in any year in the history of the United States other than fiscal 2009, which was the year that President Barack Obama’s $840 billion stimulus law was enacted.
Fiscal 2017 also saw the second highest real federal individual income tax totals of any year in U.S. history, according to the Monthly Treasury Statement released today.
Total federal tax revenues were the third highest in U.S. history.
While it was collecting the third highest total tax revenues in U.S. history, the federal government ran a deficit $665,712,000,000 because of its high total spending.
Republicans have controlled the House of Representatives since 2011, after winning a majority of seats in the 2010 election. They have controlled the Senate since 2015, after winning a majority in the 2014 election. In fiscal years 2016 and 2017, a Congress in which the Republican Party controls both houses was responsible for enacting all federal spending legislation.