Congress Has Spent $10.9 Trillion Under McConnell; $91,142 Per Household

By Terence P. Jeffrey | December 1, 2017 | 11:30 AM EST

Senate Majority Leader Mitch McConnell (Screen Capture)

(CNSNews.com) - Since Mitch McConnell became the Senate majority leader in January 2015, the Congress has overseen $10,904,736,000,000 in federal spending, according to the Monthly Treasury Statements.

That equals approximately $91,142 in federal spending per each household in the country.

At the same time, the government collected $9,326,164,000,000 in taxes—or $77,948 per household.

The cumulative deficit the federal government has run during McConnell’s time as majority leader equals $1,578,572,000,000.

At the same time, the total federal debt—including both Treasury securities held by the public (such as Treasury bills, notes and bonds) and the “intragovernmental debt” that the Treasury has borrowed from government trust funds (such as the Social Security trust funds)—has climbed by $2,466,352,412,626,57.

The Republicans won control of the House of Representatives in the election held Nov. 2, 2010, and the new Republican House majority was seated in January 2011. The Republicans t hen won control of the Senate in the election held on Nov. 4, 2014, and the new Republican Senate majority was seated in January 2015.

On Dec. 13, 2014, the lame-duck Democrat-controlled Senate passed an omnibus spending bill to fund most of the government through the remainder of fiscal 2015. The bill had previously been approved by the Republican-controlled House. In the Senate, 17 Republicans voted against the bill, but McConnell—the incoming majority leader--voted for it.

In the nine remaining months of fiscal 2015 (January 2015 through September 2015), during which McConnell presided as majority leader over a Republican-majority Senate, the federal government spent $2,771,476,000,000, according to the Monthly Treasury Statements for that period.

In fiscal 2016, when Republicans controlled both houses of Congress and McConnell was majority leader for the full year, the federal government spent 3,854,100,000,000.

In fiscal 2017, when the Republicans again controlled both houses of Congress and McConnell was the majority leader for the full year, the federal government spent $3,980,605,000,000.

In the month of October 2017, the first month of fiscal 2018, when the Republicans controlled both houses of Congress and the presidency, the federal government spent $298,555,000,000.

The total expenditures that have thus far been reported for McConnell’s tenure as majority leader (January 2015 through October 2017) equal $10,904,736,000,000.

In the nine months of fiscal 2015 that McConnell was leader, the federal government collected $2,509,241,000,000 in taxes; in fiscal 2016, it collected $3,266,688,000,000; in fiscal 2017, it collected $3,314,894,000,000; and, in October 2017, it collected $235,341,000,000.

Thus, the total tax collection thus far reported for McConnell’s tenure equal $9,326,164,000,000.

Spending during McConnell’s tenure ($10,904,736,000,000) has exceed tax revenues ($9,326,164,000,000) by $1,578,572,000,000.

At the same time, according to the U.S. Treasury, the total federal debt has climbed from $18,097,814,959,110.13 at the close of business on Jan. 6, 2015—the day McConnell took his post as majority leader—and $20,564,167,371,736.70 on Nov. 29, 2017, the latest day on record.

That is an increase in the debt of $2,466,352,412,626.57 during McConnell’s time as majority leader.

There were 119,646,000 households in the United States as of September, according to the Census Bureau’s latest estimate of U.S. households.

That means that the $10,904,736,000,000 the federal government has spent under McConnell’s leadership equals $91,141,67 per household.

The $9,326,164,000,000 the federal government has collected in taxes under McConnell’s leadership equals $77,947.98 per household.

The $2,466,352,412,626.57 increase in the debt while McConnell has been majority leader equals $20,613.75 per household.


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