Just weeks after federal officials told the American people (loud and clear!) that they don't care about sinking our children and grandchildren in mountains of debt, the Treasury Department reports that this year's deficit has already eclipsed last year's total figure.
Looks like the only thing Washington agree on these days is how to spend your money.
Per Yahoo Finance:
The U.S. fiscal deficit has already exceeded the full-year figure for last year, as spending growth outpaces revenue.
The gap grew to $866.8 billion in the first 10 months of the fiscal year, up 27% from the same period a year earlier, the Treasury Department said in its monthly budget report on Monday. That’s wider than last fiscal year’s shortfall of $779 billion -- which was the largest federal deficit since 2012.
So far in the fiscal year that began Oct. 1, a revenue increase of 3% hasn’t kept pace with a 8% rise in spending. While still a modest source of income, tariffs imposed by the Trump administration helped almost double customs duties to $57 billion in the period.
Washington, D.C., might not be good at anything else, but they know how to spend taxpayer money.
Neither party is willing to make the tough decisions for the good of our nation, which is why millions of Americans have joined the nationwide effort to call an Article V Convention of States.
A Convention of States has the power to propose constitutional amendments that force Congress to be fiscally responsible. These amendments can mandate a balanced budget, but they can also limit spending and taxation to keep the feds from raising taxes to pay for their profligate spending.
As we saw so clearly last month, even politicians elected for the expressed purpose to imposing fiscal restraints will collapse when the pressure's on. Article V is the only effective way to make Washington do what's best for our country, and it's high time we used it.
Sign the Petition below to show your support!
