Congressman Biggs’ Statement on Latest Monthly Treasury Statement
WASHINGTON, D.C. – Today, the U.S. Treasury Department released the Monthly Treasury Statement for May 2019. The data shows that government revenues have increased for FY 2019 (in large part due to tax collections), but that government spending has increased almost 10% during the same period. Interest on the national debt has cost the United States over $354 billion during FY 2019, and is estimated to run over $593 billion by the end of the fiscal year. Congressman Biggs released the following statement:
“This latest government data proves that America has a spending problem, not a revenue problem. The pro-growth policies of tax cuts and regulatory cuts championed by President Trump and the Republican-controlled 115th Congress have given the U.S. economy a boost and contributed to enhanced government revenues. Unfortunately, with most of government spending on an unsustainable autopilot, our national debt continues to rise uncontrollably.
“Instead of tackling this national security crisis for future generations, Members of Congress are content with punting these tough decisions to the next budget, the next debt ceiling, the next continuing resolution, or the next omnibus. In just a few short months, Americans will hear the stale refrain of spending deadlines and conversations of government shutdowns. This is unacceptable. Our constituents should not accept our refusal to confront these financial challenges. We were sent to Washington to leave the country better for our grandchildren.”
Congressman Andy Biggs is a second-term Representative from Arizona’s Fifth Congressional District, representing parts of Chandler, Gilbert, Mesa, and Queen Creek. Congressman Biggs is a member of the House Judiciary and Science, Space, and Technology committees. He lives with his wife, Cindy, in Gilbert.