“We shall all consider ourselves unauthorized to saddle posterity with our debts, and morally bound to pay them ourselves.”
— Thomas Jefferson
“We shall all consider ourselves unauthorized to saddle posterity with our debts, and morally bound to pay them ourselves.”
— Thomas Jefferson
America is Facing a Grave Financial Crisis
The U.S. debt ($37 trillion) is nearly 7.5 times federal revenue ($5.1 trillion) and 123% of GDP ($30 trillion). As Congress borrows $2 trillion more each year (to fund nearly 30% of the budget), interest will eclipse Social Security as the largest budget item and quickly precipitate an economy-killing default.
To Neutralize the Threat …
The STATES must orchestrate the adoption of a Balanced Budget Amendment (BBA) using Article V of the Constitution. Here’s how:
Fortunately, 27 states have called for a convention to propose a BBA (see map), and we’ll have 28 with one final vote in South Carolina.
The Ratification of a Bipartisan Amendment
We will push from 27 – 33 states, assemble a bipartisan panel of budget experts to draft a bipartisan BBA, pressure Congress to propose the BBA (or risk a convention), and lobby for ratification in 38 states.
This would rank as a TOP 5 MOMENT in American history because it would FORCE Congress to fix EVERYTHING (Social Security, Medicare, Defense, etc.) in order to balanced the federal budget.
** The threat of a convention would allow other groups to lobby for Social Security, Medicare, and Defense to be reformed via federal legislation (vs. a BBA) with public opinion deciding the matter.
We Must Prioritize Constitutional Reform
While both parties expend massive amounts to win control of Congress and fix America’s problems, when Congress itself becomes the problem, we must fix it by funding the appropriate constitutional reform campaign.
With just .2% ($25 million) of that $12.5 billion, we can constitutionally force the U.S. Senate to balance the federal budget and stop our slide towards bankruptcy.
We Must Act Now to Survive
The haunting words of Abraham Lincoln are quite apropos when it comes to the U.S. national debt.
If we are to live through all time as a nation of free men and women, We the People must do all we can to help achieve the adoption of a Balanced Budget Amendment.
Otherwise, America will expire by debt suicide.