42nd Straight Month of Federal Budget Deficits: debt & deficit ought to be #1 concern
Victoria Coley 433.758.6077 firstname.lastname@example.org
42nd Straight Month Of Federal Budget Deficits
Debt & Deficit Ought To Be The #1 Concern
Arlington,VA – Today as the Treasury Department reported a $198 billion deficit for March, making it the 42nd straight month of federal deficits, President Obama pitched the so-called “Buffett Rule.”
The Treasury Department reported Washington spent $369 billion while only taking in $171 billion in March.
Gretchen Hamel, executive director of Public Notice, said:
“For years the U.S. has had an unfortunate habit of spending taxpayers dollars without a budget, spending far more than we can afford and sending us deeper into debt. Our national debt has ballooned, and our elected representatives in Washington continue to sidestep the need to work together on a serious resolution that addresses the core problem – government spending.
“For the past two years Europe has served as a warning to what America could face, and the signs are becoming more real. While America’s bank statement just posted outstanding payments for the 42nd straight month, there comes a point when you have to ask: when is enough, enough?
“As Washington’s leaders sit on their hands, they sentence future generations to cleaning up the mess they lack the courage to address.
“Over the next ten years the ‘Buffett Rule’ would only lower the debt by 0.2% which will barely do anything in terms of deficit reduction. What we need is comprehensive spending and tax reform that will spur the economy and put our nation back on a sustainable fiscal path.
Public Notice is an independent, nonpartisan, non-profit, 501(c)(4) organization dedicated to providing the facts and insights on the effects public policy has on Americans’ financial well-being.