WASHINGTON — In an unprecedented move, lawmakers have announced on Monday that they have come together on a bipartisan budget plan that eliminates deficit spending and will keep government offices open through tomorrow.
Congress has not passed a balanced budget with a surplus since the 2001 fiscal year. The past four years have seen the most amount of deficit spending in United States history, with a record $3.13 trillion in deficit spending in 2020.
The current Federal debt is upwards of $34 trillion dollars. Given these stats, Congress’ passing of a balanced budget is a significant step towards fiscal responsibility, a quality typically lacking.
Not Satire: Two weeks ago, Congress unveiled a $1.2 trillion spending plan to avoid a government shutdown. Spending bills are extremely politicized and are passed on top of mandatory spending like Social Security and Medicare. It will likely be a long, long time before our federal government ever passes a balanced budget. Every US state except for Vermont has balanced budget amendments in their constitutions, something the Federal government lacks but some conservative groups have pushed for in recent years.