WATCH: Expert says U.S. budget has only been balanced 5 times in 50 years

Thomas Schatz, president of Citizens Against Government Waste, testified before Congress this week about the need for financial reform in the government.

“The budget has only been balanced five times in the last 50 years,” Schatz told lawmakers. “Think about that. If your family had only balanced your budget five times in 50 years, you’re pretty much broke, and however it gets done, something needs to be done.”

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