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POSTED ON January 14, 2022  - POSTED IN Exploring Finance

In the calendar year 2021, federal tax revenues surged by an incredible 25% compared to 2020 and were up 22.8% over 2019 (pre-COVID). But the surge in tax revenues was not enough to overcome a record $6.8 trillion in spending, breaking the spending record set in 2020 by 1.6%.

POSTED ON July 6, 2017  - POSTED IN Key Gold Headlines

Lawmakers in Illinois appear on the verge of passing the state’s first budget in two years. The measure includes a $5 billion tax increase on the good people of of the state. But the Illinois’ finances are in such a mess, even that may not be enough. It looks likely that even if the politicians get things done and finally pass a budget, the state still may find its credit rating downgraded to junk.

This shows just how bad things are in the Land of Lincoln. Let this sink in for a moment – the state is so far in debt that not even a $5 billion income tax increase can’t put its fiscal house in order.

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