$2,139,254,000,000: FY2016 Taxes Set Record Through May; $14,164 Per Worker; Feds Still Run Deficit of $407,099,000,000

By Terence P. Jeffrey | June 10, 2016 | 2:25pm EDT

(CNSNews.com) - The U.S. Treasury took in a record of approximately $2,139,254,000,000 in tax revenues in the first eight months of fiscal 2016 (Oct. 1, 2015 through May 31, 2016), according to the Monthly Treasury Statement released today.

That is up about $15,347,130,000--in constant 2016 dollars—from the approximately $2,123,906,870,000 in constant 2016 dollars the Treasury collected in the first eight months of fiscal 2015.

(Tax revenues from previous years were adjusted to 2016 dollars using the Bureau of Labor Statistics Inflation Calculator.)

In May alone, the Treasury collected approximately $224,603,000,000 in revenue.

Despite collecting record revenues in the first eight months of fiscal 2016, the federal government still ran a deficit of $407,099,000,000 during the period--as federal government spent approximately $2,546,353,000,000 in those eight months.

The record eight-month tax haul of $2,139,254,000,000 equaled approximately $14,164 for each of the 151,030,000 people in the country who, according to the Bureau of Labor Statistics had a full or part-time job in May.

Chart from the Monthly Treasury Statement for May 2016 (Screen Capture)

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