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Congress is so dysfunctional and irresponsible it’s only done its job four times since World War II

The federal government had a record $432 billion deficit in July and hit the $40 trillion total debt threshold in August — and Congress took a break.

Congress is so dysfunctional and irresponsible it’s only done its job four times since World War II

Congress has only delivered on its fiscal responsibilities four times since World War II, according to recent wire material. This dysfunction is particularly disconcerting considering the federal government's record $432 billion deficit in July 2023 and surpassing the $40 trillion total federal debt threshold in August of the same year.

The projections indicate that the federal government's total liabilities and unfunded obligations could exceed $147 trillion, up $11 trillion in one year from about $20 trillion in 2020. To address this issue, major budget reforms are necessary, including adopting a No Budget, No Pay Rule that would mandate Congress to pass all appropriations bills by the end of the fiscal year or stay in session until they do, ensuring members are not paid until this occurs.

Additionally, an automatic continuing resolution (CR) at the level of the prior year's appropriations, without inflation adjustments or "one-year-only" funding, would incentivize timely completion of the work. The debt ceiling, currently a contentious issue, is proposed to be replaced with a constitutional amendment focused on debt held by the public as a percentage of GDP, such as setting it between 110-120% of GDP.

To achieve this, a fiscal commission should be established to engage the American people in budget spending and revenue reforms, with a statutory commission and a constitutional amendment being essential steps in restoring fiscal sanity, stability, and sustainability.

Written by urgent.news from Fortune's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

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