Spending is in Lock-step with 2015 and Higher than 2014. We have spent 2.211 trillion dollars so far this year. Last year spent 2.219 trillion dollars. If we stay this course  we will spend roughly $3.75 trillion - the most ever.

We are on track to pay more taxes (generate more revenue) than ever. Currently we have paid in 1.91 trillion in taxes. This is virtually identical to where we were during 2015 and 105 billion dollars more than we paid during July of 2014. If we keep track with 2015 we will pay in another 600 billion in taxes by the end of September and the end of the fiscal year. If we keep the same pace as 2015 we will pay in almost $1.4 trillion in taxes by the end of the year from the end of July.Taxes for 2014 were higher than 2013. Taxes for 2015 were higher than 2014. Will taxes be higher during calendar year 2016 than 2015?

We have racked up $300 billion in new debt since January 1st - We may add another $180 billion dollars or more by the end of the year. If  our revenue and our spending keep pace with 2015 then we could see a deficit by the end of the year of 480 billion - $180 billion more than where we are right now. This would place us close to $19.6 trillion in debt by the end of the year. We could follow the deficit path of 2014 if the revenue stream from where it is right now. We could add as much as $380 billion in deficit spending by the end of the year.That would place the Federal Debt at $19.8 Trillion Dollars by the end of the calendar Year.

The Treasury is expecting to spend $680 Billion by the end of September. They are expecting to generate 600 billion in revenue. They plan on adding another $80 bill to the debt by the end of September . This column is projecting additional deficit spending of between $189 billion and $200 billion based on our current trajectory.

Either way you cut it - We may see $20 trillion in debt before the next inauguration.

The Federal Debt increased by $113 billion dollars during the Month of July. The debt when President Obama took office was just over $10 Trillion Dollars. The government has seen 376 billion in TARP (Troubled Asset Relief Program) money repaid under President Obama that were issued under President George W. Bush. The program that was supposed to cost over $700 billion only spent $431 billion, of which $376 billion has been repaid. This means that President Obama, in effect, started with 9.6 trillion of debt. President Obama has, therefore, added 9.8 trillion in debt "all by his lonesome."

There are a couple of ways to look at the data - Revenue - Spending - Deficits. We have seen record revenue recently. We have also seen record levels of revenue. This record revenue is diluting or eliminating whatever Gasoline Savings Stimulus there may be. We also saw the smallest June Surplus that we have seen since prior to the recession. The two main question as are where are we and where are we going?

 We are at Near Record Revenue (Taxes)  for the Month of July. We paid in $210 billion in taxes during July 2016. This is down from 225.5 billion dollars last July. We "saved" 12.5 billion dollars last month.  The Monthly Retail Report  showed a modest uptick of July spending of just $3 billion. Revenue for July was up $50 billion from July 2009.Meanwhile the July Retail report shows that we spent just about the same amount of money on gasoline this July as we did during July 2009. What Gasoline Stimulus?

July Spending was near record levels. The Government spent more money during the Great Recession and during 2015 than it did last month. Even so, it spent more money than it received in revenues, again. This column has detailed how normally revenue exceed spending every April, June, September, and December due to the schedule of quarterly payments by businesses and independent contractors.  We still spent more money during July 2016 than we did during July 2014.