U.S. Government Spent 51% More Than It Took In Last Month

President Trump is happy that tariff taxes reaped by the government continue to grow.

For August, the U.S. government collected $30 billion in tariffs.

That’s good news if you’re a government bean counter.

However, tariff revenue still only makes up 10% of total government revenue. Back in April, Trump flirted with the idea that tariffs could lower or eliminate income taxes.

Politically, the idea sounds great.

In reality the numbers don’t come close.

The $344 billion the government collected from all forms of taxes last month is just 49% of the $689 billion it spent:

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The U.S. continues to run massive peacetime deficits. (Source: U.S. Treasury)

In other words, the government spent more than half of the money again, as much as it earned last month. Imagine how long spending like that would last if it were your family budget.

This week, the semi-annual budget theatre returns to Washington, D.C. House Speaker Mike Johnson will be making his rounds trying to justify another continuing resolution to keep the government open. All the while, the hard math of demography will grind away at the fabric of U.S. empire.

~ Addison

P.S. Politics are exerting pressure on money market funds, too.

This week on Grey Swan Live! with Adam O’Dell – at 2 p.m. ET, Thursday, September 18, 2025 — we’ll be investigating the $10 trillion pile of cash sitting on the sidelines during the terrifying bull market on Wall Street.

Mr. O’Dell has been warning investors how impending changes to monetary policy are going to force savers out of cash and into the markets… or gold. More details to come. Sign up now to become a member and join us for this week’s call.

If you have any questions for us about the market, send them our way now to: feedback@greyswanfraternity.com.

President Trump is happy that tariff taxes reaped by the government continue to grow.

For August, the U.S. government collected $30 billion in tariffs.

That’s good news if you’re a government bean counter.

However, tariff revenue still only makes up 10% of total government revenue. Back in April, Trump flirted with the idea that tariffs could lower or eliminate income taxes.

Politically, the idea sounds great.

In reality the numbers don’t come close.

The $344 billion the government collected from all forms of taxes last month is just 49% of the $689 billion it spent:

Turn Your Images On

The U.S. continues to run massive peacetime deficits. (Source: U.S. Treasury)

In other words, the government spent more than half of the money again, as much as it earned last month. Imagine how long spending like that would last if it were your family budget.

~ Addison

P.S. Politics are exerting pressure on money market funds, too.

If you have any questions for us about the market, send them our way now to: feedback@greyswanfraternity.com.

With the United States conducting what the Pentagon politely calls an “operation” against Iranian military infrastructure, markets have had every reason to be panicky. Instead, the past week delivered something subtler…

Gold has been consolidating after a powerful multiyear rally. Yet with America’s gold reserves equal to only about 3% of federal debt, the metal could still have significant upside ahead.

The Federal Reserve can print money, but it can’t print oil. As energy prices surge and supply disruptions loom, the central bank may find itself with limited tools to fight inflation driven by real-world shortages.

The plan to release 172 million barrels from the Strategic Petroleum Reserve would leave the U.S. with its smallest stockpile of emergency oil in more than four decades. And with tensions simmering globally, the shrinking reserve raises uncomfortable questions about how prepared the U.S. is for the next supply disruption…

Gold has been consolidating after a powerful multiyear rally. Yet with America’s gold reserves equal to only about 3% of federal debt, the metal could still have significant upside ahead.