If you're a liberty-loving American and a supporter of the Convention of States Project, you likely already know the dangers of continuing to increase the national debt.
But do you know how you and your family could benefit if Congress were forced to cut spending?
Lowering the national debt will allow the U.S. to face foreign threats more effectively and boost the economy, but it could also put money in your pocket.
According to new analysis from the Congressional Budget Office, shrinking the debt back down to its average historical level could boost incomes by $5,500 per person in 30 years.
According to the report, "In the scenario in which debt falls to 42 percent of Gross Domestic Product, real Gross National Product in 2049 would be 5.8 percent higher, and real (inflation-adjusted) Gross National Product per capita would be about $5,500 higher" than if the laws remains as they are.
"In sum," the report concludes, "CBO projects that actions to reduce deficits would lead to higher income in the long term."
There's just one problem: in order for this to happen, Congress would have to decrease the debt-to-GDP ratio to 42 percent, which is the average over the last 50 years. Right now, we're on track to hit a national debt that is 144 percent of GDP.
In other words, it would take a monumental change in D.C. for the American people to enjoy the benefits of a smaller, more manageable national debt.
Congress won't make those changes on its own. Our "leaders" in D.C. are too concerned about reelection to propose (much less support) a policy that would so drastically cut federal spending. Fortunately, there is another way.
An Article V Convention of States is called and controlled by the states and has the power to propose constitutional amendments that force Congress to be fiscally responsible. These amendments can include a balanced budget requirement, spending limits, and tax caps (among others) -- anything that reduces the deficit and the debt and secures the financial futures of our children and grandchildren will be open to Convention delegates.
Our economy and prosperity has been weighed down by money-wasting politicians in Washington long enough. It's time to unleash our country's potential, and the best way to do that is with a Convention of States.
Sign the Petition below to show your support!
