The U.S. House tanked a balanced budget resolution to curb the federal government’s practice of racking up trillion-dollar deficits every year.
The failed Wednesday vote comes as federal spending pushed the national debt over $39 trillion, roughly $3 trillion higher than it was 12 months ago.
That means the U.S. government was adding nearly $89,000 per second to the national debt over the past year, according to the U.S. Congress Joint Economic Committee.
“Congress has failed our country,” House Budget Committee Chairman Jodey Arrington, R-Texas, said Wednesday. “Our out-of-control spending has jeopardized our economy, our security, our leadership in the world, and, worst of all, compromised our children’s future and the blessing of their inheritance of freedom and opportunity.”
The resolution proposed a Constitutional amendment that would cap federal spending each year at the average annual revenue of the previous three years.
