Federal Spending Will Top THIS Number for the First Time in History

Last updated on: July 14, 2017 at 2:50 pm by Convention of States

Federal Spending Will Top THIS Number for the First Time in History 2017-07-14T14:50:48-05:00 Convention of States

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Federal spending only ever goes in one direction: up.

This year the feds are projected to hit a historic milestone. For the first time ever, the federal budget calls for over $4 trillion in spending.

CNS News reports:

Both the Congressional Budget Office and the White House Office of Management and Budget project that federal spending will top $4 trillion for the first time in fiscal 2017, which began on Oct. 1, 2016 and will end on Sept. 30.

In its “Update to the Budget and Economic Outlook: 2017 to 2027” published last week, CBO projected that total federal spending in fiscal 2017 will hit $4,008,000,000,000.

That is up from the approximately $3,853,000,000,000 that CBO and OMB say the federal government spent in fiscal 2016.

In President Donald Trump’s fiscal 2018 budget proposal, the OMB estimates that federal spending in fiscal 2017 will hit $4,062,000,000,000.

The $4,008,000,000,000 the CBO estimates the federal government will spend this fiscal year equals $33,805 for each of the 118,562,000 households the Census Bureau estimated were in the United States as of March.

Clearly, federal spending is out of control, and no one in D.C. has the will to stop it.

That’s why the people and the states need to step in and call a Convention of States.

At a Convention of States, delegates can propose constitutional amendments that force the feds to work within the realms of fiscal responsibility.

The country can’t continue spending at this pace for much longer. We need to act now before it’s too late.

Image Credit: 401(K) 2012 on Flickr

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