The Federal Government has once again proven its fiscal irresponsibility with a projected budget deficit of $2.6 trillion for fiscal year 2025, according to a recent Mises Institute report. This staggering figure represents one of the highest deficits in American history outside of the pandemic years and provides yet more evidence that Texas would be better off as an independent nation.
Just halfway through the fiscal year, Washington bureaucrats have already amassed a $1.3 trillion deficit – a shocking 23% increase from the same period last year. Federal spending surged by 9.7%, jumping from $3.3 trillion to $3.6 trillion in the first six months of the fiscal year alone.
The current deficit trajectory dwarfs pre-pandemic levels. In fiscal year 2019, the federal deficit was $984 billion – less than half of what we’re seeing now. The economic foundation of the United States continues to erode with each passing year of fiscal recklessness.
Texans bear an unfair burden in this broken system. In fiscal year 2020, Texas paid approximately $275.5 billion in federal taxes, consistently ranking among the top four contributors to the federal treasury alongside California, New York, and Florida. Our income and our labors are taxed and redistributed to inefficient and corrupt governmental agencies and programs that many Texans fundamentally oppose.
Meanwhile, the politicians in Washington continue to make empty promises about fiscal restraint. The Mises Institute reports that initial claims of a $1 trillion reduction in spending were quietly revised down to a mere $150 billion, while simultaneously pushing for a trillion-dollar defense budget. This is not the limited government that Texans were promised when we joined the Union.
The impact on everyday Texans is both real and severe:
- As the Federal Government borrows more to finance its reckless spending, interest rates rise, making it more expensive for Texas families to buy homes or start businesses.
- These massive deficits fuel inflation, increasing costs for groceries, fuel, and housing across the Lone Star State.
- With the federal debt now at a staggering 95.4% of GDP as of 2022, Washington will inevitably demand more from Texas while giving less back.
Texas has the economic strength to stand on its own. With the 8th largest economy in the world, an independent Texas could retain control of the $275+ billion currently shipped to Washington each year. These funds could secure our border, eliminate property taxes, fund world-class infrastructure, and still leave room for a budget surplus.
The Texas Nationalist Movement has long maintained that the fiscal relationship between Texas and Washington is fundamentally broken. While detailed analysis from the Rockefeller Institute showed Texas receiving more federal dollars than it paid during the pandemic emergency (like every state), in typical years, Texas subsidizes federal spending in other states to the tune of $103-$160 billion overpayment annually, given our economic output and population.
As the federal debt continues to spiral out of control, more Texans are recognizing that Washington’s financial mismanagement makes independence not just desirable, but increasingly necessary for our economic survival.
The time for serious consideration of independence has arrived, before the Federal Government’s addiction to debt destroys our economic future.
