EUROPEAN COUNTRIES RUNNING OUT OF TAX REVENUE

NP:  But for number-crunchers, something interesting happened. It was the day when France ran out of money. As of Nov. 7, all the money the government raises through its taxes – and this being France, there are literally dozens of them – had been spent. The rest of the year is financed completely on tick.
And yet France is far from alone. All the main European countries, the UK included, are running out of tax revenue well before the year is over.