Jason Smith: “Deficit Day is the symbolic day each calendar year when the Federal Government runs out of money and begins adding to…”

“Deficit Day is the symbolic day each calendar year when the Federal Government runs out of money and begins adding to the already enormous debt. Despite the $2.7 trillion the government is estimated to collect this year from taxes, tariffs, fees, and other sources on a calendar-year basis, the money ran out this past Wednesday, September 25. As the debt limit approaches in mid-October, the Federal Government continues to spend money it does not have on things that Americans do not want. Washington is projected to spend over $10 billion per day; and from this point until December 31, every dollar that it spends from this point on adds to our enormous national debt, which is already nearly $17 trillion. In the last 4 years, Congress has raised the debt limit seven times; and, today, the debt for every man, woman, and child averages over $53,000 per person. Mr. Speaker, families and small businesses from across the United States are forced to live within their means. The Federal Government should be held to the same standard. If my friends back in my home State of Missouri can successfully balance their budgets each year, we should be capable of doing the right thing here in Washington, D.C. That is why I introduced an amendment to the Constitution to require the government to produce a balanced budget each and every year. Mr.…”