FreedomWorks Statement on $1.5 Trillion Deficit in FY23

Washington, D.C. – In response to the Congressional Budget Office’s August Report, indicating that the federal budget deficit in the last 11 months of fiscal year 2023 is $1.5 trillion, Adam Brandon, FreedomWorks president, commented:

“The federal government’s mismanagement of American taxpayers’ dollars continues to erode our nation’s financial future. In the face of a $1.5 trillion budget deficit, one would think that reducing spending would be a priority; however, it is proving to be more difficult to separate lawmakers from their addiction to out-of-control spending. The current debate over spending is too narrow.

“We have to look for solutions to cut discretionary spending and reform major healthcare and retirement programs that keep our promises to seniors while ensuring their long-term financial viability. We are bankrupting the next generation of Americans before they even have a chance. If Washington continues its spending spree, payments on interest, alone, will grow to roughly $1.5 trillion in ten years. Congress is actively leaving America worse off than they found it. They are lying to themselves if they believe otherwise.”