The U.S. federal budget deficit has surpassed $955 billion in the first seven months of fiscal year 2026, putting it on track to exceed $1.9 trillion for the full year. This growing debt burden means a significant portion of taxpayer money, projected to be nearly a third by 2036, will be allocated to interest payments rather than government services. Despite numerous legislative attempts and commissions aimed at controlling the budget since 1968, none have effectively curbed deficit spending, leading to calls for a constitutional amendment to enforce fiscal responsibility. AI
RANK_REASON The article discusses the US federal budget deficit and historical attempts to control it, offering an opinion on the need for constitutional reform.
- Commission on Fiscal Responsibility and Reform
- Congressional Budget Office
- U.S. government
- Gramm-Rudman-Hollings Balanced Budget and Emergency Deficit Control Act
- H. Res. 981
- Obama
- S. Res. 654
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