[areyousure]

In case anyone was curious, the interest being paid on the national debt is of the order of $1 trillion per year, while the amount collected in taxes (federally only) is of the order of $5.5 trillion per year.

[DarkmSparks]

federally only is about $1.6Trillion, the rest is state taxes and never goes near the federal government to cover the interest on their debt. ($1.8Trillion at a poultry 5% interest)

[sarchertech]

I don’t know where either of you are getting your numbers. The total federal revenue is a bit under $5 trillion and about half of that is income tax.

Neither of those numbers include any state revenue or tax.

[DarkmSparks]

dont know where you are getting your numbers. sounds like are confusing revenue and spending. relying on some AI maybe?

US collects about $12Trillion in taxes total (30% ish of GDP), under $2trillion of that is given to the federal government for medicare, medicade and the military, they spend more than $5trillion, which is what they spend on medicare, medicade the military and the interest on the $37Trillion debt they have accumulated spending more than they were given by the states for medicare medicade and the military - mostly bank and insurance fund bailouts to prop up the failed US financial system, adding about $3trillion to the federal debt each year, which is why it has gone from $30trillion at the end of 2022, to $37trillion now.

Getting downvoted because I do my own research instead of believing the latest gormless chatbot, that's new.

[wat10000]

Receipts: $4.9 trillion: https://www.cbo.gov/publication/60843/html

Of that, individual income tax was about $2.4 trillion, payroll tax was $1.7 trillion, corporate income tax was $530 billion, and there's about $253 billion of "other."

[daveguy]

You cited nothing, and you are wrong on every number you quote.

Fortunately Trump hasn't destroyed revenue reporting yet. This contains info for FY2024:

https://fiscaldata.treasury.gov/americas-finance-guide/gover...

[DarkmSparks]

When I went to school I didn't need to cite sources to say 2 x (5.5-4 9) = 37-30

Is bad math.

Or if you spend $5.5T a year and your debt increases $3.5T you had $2T in revenue.

But here you go Medicare 2023 https://usafacts.org/articles/how-much-does-the-government-s... $848.2 billion

Medicade 2023 $606 billion https://www.kff.org/medicaid/issue-brief/medicaid-financing-...

Military 2023 https://usafacts.org/articles/how-much-does-the-us-spend-on-... $820 billion

848+620+820 = $2.2T

National debt https://www.investopedia.com/us-national-debt-by-year-749929... $30,928 end of FY 2022 $33,167 end of FY 2023

How exactly are you saying they spent 2T more than they collected in revenue again? Is this a Joe Biden forget where he put it or smth?

Meanwhile Debt now https://www.usdebtclock.org/ $36.4T =$33,167 end of FY 2023, spent $3.3T on interest, Collected and spent $2.2T on medicare,medicade and the military. = $33.1 +3.3 -2.2 +2.2 = $36.4T

good luck have fun. Im out. enjoy your fantasy economics for the few months it has left. Last group of federated states with group finances in a similar position was the USSR circa early 1991, pop quiz, can you guess what I think happens to the US next?

[daveguy]

I see someone in this conversation has never heard of interest.

Good luck buddy.