Budget Fact Of The Day: Congress Doesn’t Vote On 60% Of What The Federal Government Spends
Stephen Green makes this observation:
On Fox News Sunday, Mitch McConnell dropped a bit of trivia we don’t think of very often — but it’s still all too true. That is, “We don’t vote on 60% of the budget.”
Congress doesn’t have a say over nearly two-thirds of all spending — that’s entitlements and interest on the debts.
This is the biggest part of our problem and the biggest reason why trying to run the government without raising the debt ceiling would be, in a word, difficult. Green is right that this needs to be reformed, and fast. At this point, even a modest rise in T-Bill interest rates would cause that 60% number to increase substantially. And then what are we going to do? That will be when the entitlement society dies, and it will be painful.