Illustrating the gluttonous nature and disturbing spending habits of the empire that is the United States, the US Treasury released its financial report from 2017 showing that the government lost $1.2 TRILLION dollars in 2017.
Yes, that is TRILLION, with a ‘t’.
The Goldman Sachs insider who was appointed as the Secretary of the Treasury, Steven Mnuchin, celebrated the report, noting that he was “pleased to present the Financial Report of the United State Government,” which showed a loss of $1.2 trillion.
After the opening message celebrating their utter incompetence in managing a budget, the report goes on to note how the US government spent a trillion more dollars than they had. This loss of money will ensure that future generations will be forever burdened with the impossible task of paying back the debt to the Federal Reserve.
According to the report:
The Government’s gross costs of $4.6 trillion, less $431.9 billion in revenues earned for goods and services provided to the public (e.g., Medicare premiums, national park entry fees, and postal service fees), plus $356.5 billion in net losses from changes in assumptions (e.g., interest rates, inflation, disability claims rates) yields the Government’s net cost of $4.5 trillion, an increase of $128.8 billion or 2.9 percent over FY 2016. Deducting $3.4 trillion in tax and other revenues, with some adjustment for unmatched transactions and balances, results in a “bottom line” net operating cost of $1.2 trillion for FY 2017, (an increase of $105.0 billion or 10.0
percent) over FY 2016.
To put this into perspective, the US government lost five times more money than the entire Mexican economy. The loss of $1.2 trillion equates to losing $2,283,105.02 every single minute of 2017—or, $38,051.75 a second.
In 2017, the United States lost over $3 billion every single day and somehow these people think this is sustainable.
What’s so ominous about this loss is the fact that, in 2017, the US government took in a record high $3.3 trillion in taxes and they still managed to lose $1.2 trillion.