In a recent statement, Governor Kevin Stitt of Oklahoma expressed concern over the lack of a balanced budget at the federal level. He highlighted the frustration felt by many Americans due to Congress's failure to pass a budget, relying instead on continuing resolutions and deficit spending.
Governor Stitt pointed out that the government's revenue last year was $4.4 trillion, but its spending exceeded that amount, reaching $6.1 trillion. This deficit spending, according to the Governor, is unsustainable and is a cause for alarm.
Of particular concern is the fact that 25% of the government's annual revenue is now being used to pay interest on the national debt, amounting to a staggering trillion dollars per year. Governor Stitt emphasized that this interest-only approach to debt repayment is not a viable long-term solution, as the debt will continue to accumulate without any progress towards paying it off.
The Governor highlighted the urgent need for an honest conversation about the nation's financial situation, stressing that the current trajectory is unsustainable. He underscored the fact that the government is still spending $1.7 trillion more than its revenue, further exacerbating the deficit.
Overall, Governor Stitt's remarks shed light on the pressing need for fiscal responsibility and prudent financial management at the federal level. The Governor's call for transparency and accountability in budgeting resonates with many Americans who share his concerns about the nation's growing debt and deficit.
