This week the Trump administration announced that the federal deficit rose in fiscal 2018 to the highest level in six years as spending climbed. According to CNBC,
The deficit jumped to $779 billion, $113 billion or 17 percent higher than the previous fiscal period, according to a statement from Treasury Secretary Steven Mnuchin and Office of Management and Budget Director Mick Mulvaney. It was larger than any year since 2012, when it topped $1 trillion. The budget shortfall rose to 3.9 percent of U.S. gross domestic product.
They realize this is a problem, but their solution is... underwhelming.
The Trump administration and congressional Republicans have pledged their commitment to fiscal discipline, despite the fact that they passed a tax law projected to dramatically expand budget deficits last year and then authorized a boost in spending. In a statement, Mulvaney claimed that "America's booming economy will create increased government revenues," a point the GOP has repeatedly argued in favor of its tax plan.
"But this fiscal picture is a blunt warning to Congress of the dire consequences of irresponsible and unnecessary spending," he added. "Going forward, President Trump and this Administration will continue to work with Congress to make the difficult choices needed to bring fiscal restraint, which, when matched with increasing revenue, will reduce our deficit."
It's true: Congress does need to make the tough spending choices that will get our nation's finances back on track.
But will they?
Will our members of Congress risk losing reelection to cut wasteful or duplicative government programs? Will they slow the growth of massive spending initiatives, or find and prosecute corruption and fraud?
If their track record is any indication, the answer is a resounding, "No."
That's why We the People need to force their hand. We need to call the first-ever Article V Convention of States to propose constitutional amendments that mandate a balanced budget, spending limits, and tax cuts.
It's possible to reduce the deficit and debt -- Congress just needs a push.
Sign the Convention of States Petition below to get involved!
