(CNSNews.com) - The federal government spent $1,822,712,000,000 in the first five months of fiscal 2019, the most it has spent in the first five months of any fiscal year since 2009, which was the fiscal year that outgoing President George W. Bush signed a $700-billion law to bailout the banking industry and incoming President Barack Obama signed a $787-billion law to stimulate an economy then in recession.
The big picture: According to Treasury data released Friday, the deficit for the first five months of this fiscal year jumped to $544.2 billion -- a 40% increase from the 2018 fiscal year -- as corporate and individual tax revenues declined following President Trump's $1.5 trillion tax cut package.
Can two versions of reality exist at the same time? Physicists say they can -- at the quantum level, that is. Researchers recently conducted experiments to answer a decades-old theoretical physics question about dueling realities. This tricky thought experiment proposed that two individuals observing the same photon could arrive at different conclusions about that photon's state -- and yet both of their observations would be correct. For the first time, scientists have replicated conditions described in the thought experiment.
Enjoy some carnival pics. The people in costumes dressed like an NFL official with a bank robbers mask were the best.
"By all indications, Amazon appears to be using the tax breaks that Congress has made available," Gardner said. But he added that in the long-standing environment of federal budget deficits, when a company such as Amazon avoids billions in taxes, that money will ultimately have to come from somewhere. "It could take the form of two billion cut out of infrastructure spending," he said. "Or it could take the form of tax hikes down the road at some level on someone else, probably middle-income families and small businesses."