In 12 Years, No Revenue Left to Fund Military, Roads

By 2027, all federal revenues will go to entitlement programs and interest on the debt, said Rep. Dave Brat (R., Va.) on C-SPAN.

“There won’t be a dollar left to run government, military, roads, education, all the things folks want,” he said, citing a report from the Congressional Budget Office.

“In the short run you just can’t spend more than you have and every family knows that, every firm knows that,” he said. “Firms are firing people right now instead of hiring because they can’t meet payroll. So that’s how the real world works and the only place it doesn’t work like that is up here.”

The CBO’s findings show that the outlook for the federal budget has worsened since the recession and policies implemented afterward have made spending increase and revenues shrink and caused deficits to rise.

“They totaled $5.6 trillion in those five years, and in four of the five years, they were larger relative to the size of the economy than they had been in any year since 1946,” the report says. “Because of the large deficits, federal debt held by the public soared, nearly doubling during the period.”

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