Despite the federal government collecting record taxes in the first nine months of the fiscal year, the U.S. still ran a $515-billion budget deficit. When asked if Congress would ever be able to balance the budget, Sen. Joni Ernst (R-Iowa) said she would like to be optimistic, but “likely no.”
At the U.S. Capitol on July 26, CNS News asked Sen. Ernst, “The federal government collected record taxes in the first nine months of the fiscal year but still ran a $515 billion budget deficit. Will Congress ever balance the budget?”
Ernst said, “I would. I always want to be [an] optimist and say, yes, but likely no. The pragmatic is no. We’ve got to get serious about this, but I do support a balanced budget amendment.”
Ernst is a cosponsor of a proposed constitutional amendment that would require the president to submit a balanced budget, require congress to pass a balanced budget, and put additional restrictions on federal spending, raising taxes, and debt limit raising.
A “balanced” federal budget is when spending does not exceed its revenue. When Congress spends more than it earns, it must borrow the money needed to make up the deficit (it’s borrowed from the Federal Reserve, which is about as federal as Federal Express. It’s a bank, owned by the wealthiest people on the planet). What the U.S. is doing is called deficit spending and it’s like spending on a credit card and not paying the balance each month, along with the interest due.
The owners of the Federal Reserve own us, as long as we’re beholden to them.
Now the kicker: as of July 26, 2022, the national debt was $30,598,262,922,849.72, according to the Treasury Department.
That’s over THIRTY TRILLION DOLLARS, YOU FOOLS.
Deficit spending will spell the end of America. The bankers want their money–and they will get it.
Don’t these fools on the left (and many on the right) see what’s happening?