transfer payments

$3.22 Trillion: Federal Programs That 'Transfer Income' Projected to Hit Record in FY20

Terence P. Jeffrey, CNS News

All of this spending will be conducted by a government that is going bankrupt. At the same time the federal government will be spending a record amount on "programs designed to transfer income," according to the OMB's estimates, it will also be setting a record in overall spending while running up a record debt — despite bringing in record tax revenues. This fiscal year, according to the OMB's Table 1.1, the federal government will haul in $3,644,772,000,000 in total tax revenue, push out $4,745,573,000,000 in total spending and run a deficit of $1,100,801,000,000. The people who run our government are truly record setters.