U.S. Treasury bureaucrats are celebrating Sen. Mitch McConnell’s promise to raise the debt ceiling, but the American people aren’t so sure.
McConnell said during a public event in Kentucky that there is “zero chance — no chance” Congress would fail to raise the debt ceiling by late September. This will allow the government to continue spending more than it takes in (despite record-breaking tax revenue) and increase the nearly $20 trillion national debt.
U.S. Treasury Secretary Steven Mnuchin has urged Congress to take this action so that the feds can keep paying their bills, but at some point the $20 trillion debt will have to be paid. That will likely happen after Mnuchin leaves his post, but our children and grandchildren will be stuck cleaning up the mess.
George Washington said in 1793 that “No pecuniary consideration is more urgent, than the regular redemption and discharge of the public debt.” He understood the burden a large, uncontrolled national debt could place on future generations, and he wanted to be sure the United States would never fall into that trap.
We’ve failed to adhere to Washington’s advice, but there is a way to reverse course. An Article V Convention of States can propose constitutional amendments that force Congress to be fiscally responsible. These amendments can include a balanced budget amendment as well as amendments that limit taxation and spending.
Our children and grandchildren are counting on us to save them from national financial hardship. Our current course is unsustainable, and our federal officials lack the courage to make the necessary changes. The people and the states must take control via an Article V Convention of States.
