The United States National Debt has now exceeded $35 Trillion.
Let’s put that into perspective….
- The National Debt increases every 100 days by $1 trillion
- A trillion dollars is a million million dollars
- Each US citizen owes $104,000 towards that debt or $266,000/taxpayer
- To spend $1 million a day, it would take 2738 years to spend $1 trillion
What recent events triggered large spikes in the debt?
- Afghanistan and Iraq wars
- 2008 Great Recession
- COVID19 Pandemic
Outside of the US, who does the US owe money to for the national debt?
- Japan $1.1T
- China $750B
- United Kingdom $690B
- Luxembourg $373B
- Canada $328B
What President added the most to our debt?
- Trump added $8.4T
- Biden added $4.3T
A dysfunctional government carries a financial cost. The present debt ceiling of $31.4 trillion was reached in January 2023. After months of debate without an agreement, the ceiling was suspended until January 2025.
It’s an outrage to consider the financial situation our government is in and how Washington continues to be ineffective in dealing with the crisis. Clearly, the debt situation will begin to affect Social Security and Medicare. Some estimates forecast benefit cuts in 10 to 12 years to these basic vital programs.
As stated by British statesman and philosopher Edmund Burke “The only thing necessary for triumph of evil is for good men to do nothing”.
If you consider yourself among those who are “good men & women”, join Convention of States! Convention of States is a grassroots, non-partisan, organization with a solution. Utilizing the Article 5 process of the US Constitution, the Convention of States organization is calling for a Convention proposing the following amendments to the Constitution:
1. Fiscal restraint of federal government spending
2. Implementation of term limits upon all Federal Officials (term limits are supported by over 80% of all Americans)
3. Restrict the scope, power, and jurisdiction of the federal government over states
Join us at Convention of States to get involved and bring back common sense to our country!
