Breaking: Feds collect SURPLUS in January, cutting national debt by $50 Billion

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It looks like the newly concerned about Defecit Dems can result assured: the Federal Government is in the black for the first time since the 1990s.

The tax cut law, which came into effect in December, has already helped cut the debt.

During January, the Treasury collected approximately $361,038,000,000 in total tax revenues and spent a total of approximately $311,802,000,000 to run a surplus of approximately $49,236,000,000.

If this trend continues, the deficit could be extinguished by 2020.

Note, most of these savings appear to have come from the Government collecting record taxes while not spending as much due to the tax act.

It’s likely that Congress will somehow find a way to “allocate” this money and we’ll still be looking at $20 trillion in debt.

(SOURCE)

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