During the 2020 Democratic primary race, Joe Biden pitched himself as a moderate in comparison to other candidates like Bernie Sanders and Elizabeth Warren. But as Mark Meckler recently pointed out, Sen. Sanders is more than happy with President Biden's first few months in office.
Biden has introduced mammoth spending packages that eclipse anything in our nation's history. Even as our country buckles under the $28 trillion national debt and inflation continues to rise, the president just proposed a $6 trillion federal budget on top of the other COVID and infrastructure-related spending bills already in the works. Under the proposal, we will run $1.3 trillion deficits every year for the next 10 years.
“Under Mr. Biden’s proposal, the federal budget deficit would hit $1.8 trillion in 2022, even as the economy rebounds from the pandemic recession to grow at what the administration predicts would be its fastest annual pace since the early 1980s,” according to a New York Times report. “It would recede slightly in the following years before growing again to nearly $1.6 trillion by 2031.”
According to these projections, total public-held debt would greatly exceed the annual value of economic output, rising to a staggering 117% of the size of the economy in 2031.
“By 2024, debt as a share of the economy would rise to its highest level in American history, eclipsing its World War II-era record,” the Times reported.
This isn't just irresponsible. It's immoral. Running these kinds of deficits during an economic recovery will increase inflation, decimate retirement savings, and force future generations to pay for this generation's reckless spending. Our children and grandchildren deserve better. They shouldn't have to shoulder increased taxes and austerity measures just because the current Democratic party (and oftentimes, the Republican party as well) can't stop spending money to win reelection.
We must do something before it's too late. Fortunately, in their wisdom, our country's Founders gave us a recourse. They gave the people and the states the ultimate check on federal power and spending, and it can be found in a (until now) little-discussed clause in Article V of the Constitution.
An Article V Convention of States has the power to propose constitutional amendments. These amendments can force Congress to balance the budget, cut spending, and limit taxation. They can limit federal jurisdiction and prohibit Congress from spending our hard-earned money on progressive priorities that do nothing but divide our nation and exacerbate our economic problems.
If this is how a "moderate" spends our money, we can't wait until a self-proclaimed progressive wins the White House. We must call a Convention of States NOW -- before it's too late.
Sign the petition below to tell your state legislators that you want them to join the only solution as big as the problem in D.C. -- an Article V Convention of States.
