The deficit just grew by $955 billion in 7 months. It's time for a constitutional fix to control the budget
Author: Steve H. Hanke and David M. Walker
Outlet: Fortune
Date: May 14, 2026
Hanke and co-author David M. Walker warn that the federal deficit has already grown by $955 billion just seven months into fiscal year 2026, evidence of Washington's continued addiction to deficit spending on an unsustainable fiscal path. Pointing to decades of failed statutory budget-enforcement efforts, they argue Congress has repeatedly proven incapable of disciplining itself and revive the case for a constitutional fiscal-responsibility amendment pursued through an Article V convention, noting that 39 states had active applications on file for such a convention as far back as 1979.
Full Citation:
"The deficit just grew by $955 billion in 7 months. It's time for a constitutional fix to control the budget," Fortune, May 14, 2026. (with David M. Walker)