It's been a record-setting year so far for the federal government! See why below.
CNS News reports:
The U.S. Treasury hauled in a record of approximately $1,248,371,000,000 in tax revenues in the first five months of fiscal 2016 (Oct. 1, 2015 through Feb. 29, 2016), according to the Monthly Treasury Statement released today.
Despite these record tax revenues in the first five months of the fiscal year, the federal government nonetheless ran a deficit of approximately $353,005,000,000 during the same period.
In February alone, the Treasury ran a deficit of $192,614,000,000.
The record five-month tax haul of $1,248,371,000,000 equaled approximately $8,263 for each of the 151,074,000 people in the country who had either a full or part-time job in February.
Record taxes, and still no balanced budget. It's time we recognize the truth: Congress will never force themselves to be fiscally responsible. The more debt they accumulate, the more our children and grandchildren will suffer.
Fortunately, an Article V Convention of States means we don't have to sit on the sideline. Called at the request of 34 state legislatures, a Convention of States can propose constitutional amendments that force the federal government to be fiscally responsible.