Watercooler 5/3/16 Open Thread: Record Taxes, Marine Air, Student Loans


$1.48 Trillion: Government Collects Record-High Taxes in First Half of FY 2016

Inflation-adjusted federal tax revenues hit a record $1.48 trillion for the first half of fiscal year 2016, but the federal government still ran a $461 billion deficit during that time, according to the latest monthly Treasury Department statement.


Budget cuts leaving Marine Corps aircraft grounded

Since 1775, the U.S. Marine Corps has prided itself on being “The Few” and “The Proud.” But while the Corps takes pride in doing more with less, senior Marine officers are warning that the Corps’ aviation service is being stretched to the breaking point.

Today, the vast majority of Marine Corps aircraft can’t fly.

Federal Student Loans Will Cost Taxpayers $170 Billion

Using fair-value accounting, which incorporates the big risks that taxpayers take when lending to students, the government is losing money on student loans. And this is no small loss. Over the next ten years, the federal student loan program will come with a $170 billion price tag.


Off topic…

Army Guard Soldiers win Best Ranger Competition for first time in competition history

Soldiers from the Army National Guard took first place in the grueling Lt. Gen. David E. Grange Jr. Best Ranger Competition, the first time in the competition’s 33-year history it has been won by an Army Guard team.

Go Guard!

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