There is no excuse for this. Our federal politicians are risking the futures of our children and grandchildren, and they don't even have a financial crisis to blame it on.
CNS News reports:
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.
At the same time that federal spending was hitting this ten-year high, federal tax revenues in the first five months of the fiscal year were hitting a four-year low of $1,278,482,000,000.
According to the Monthly Treasury Statement for February, the Treasury spent $1,822,712,000,000 in the five months from October 2018 through February 2019, the first five months of the federal fiscal year.The last time the Treasury spent more than that in the first five months of a fiscal year—in inflation-adjusted constant February 2019 dollars—was fiscal 2009. That year, the Treasury spent $1,936,268,470,000.
Fiscal 2009 started with President Bush signing the Troubled Asset Relief Program into law on Oct. 3, 2008; it continued with President Obama, after his January inaugural, signing the American Recovery and Reinvestment Act on Feb. 17, 2009.
At the time, the Bush bank bailout and Obama stimulus were perceived as the two of the biggest emergency spending bills in the nation’s history.
Washington, D.C., won't balance the budget, reduce the deficit, and control the debt on its own. It's up to We the People to force their hand, and we can do it with a Convention of States.
An Article V Convention of States is called and controlled by the states and has the power to propose constitutional amendments. These amendments can mandate a balanced budget and cap taxation, which will force the feds to cut duplicative, wasteful government programs.
Congress has had long enough. It's time for the people and the states to rise up and save our country from the impending fiscal collapse. Join the movement by signing the Convention of States Petition below!
