Our "leaders" in Washington often excuse their irresponsible spending by looking to the strength of the American economy.
We can sustain a massive national debt, they argue, because our economy is the strongest in the world. If things continue to go as they have, everything will be fine.
The problem with this thinking, as the last six months have so painfully illustrated, is that things very may well not continue as they have. In the blink of an eye, an international pandemic combined with massive lockdowns can upend the world's strongest economy and threaten the financial futures of our children and grandchildren.
We may already be headed that way. The trillions spent on COVID-19 relief have resulted in the highest deficit in our nation's history. The U.S. Treasury Department reported last week that the deficit this year will exceed $3 trillion. The previous record was $1.37 trillion spent by the Obama Administration in 2009.
The deficit has increased our national debt by trillions of dollars, and now there's even worse news: China is threatening to dump $800 billion of its U.S. debt, which would "upend global financial markets and trigger domestic interest rates to rise," according to Newsweek.
Beijing is threatening the move because they're upset about President Trump's firm stance on China, and they believe the deficit increases the default risks.
It's unclear whether China will follow through on its threat, but their statements should be a wake-up call to our elected officials. We have to get our financial house in order. We can't be subject to the whims of foreign governments who hold our debt, and we have to ensure we have the funds to weather the next international crisis.
Will our leaders in Washington heed these warnings? If the last 40 years is any indication, the answer is a resounding NO.
That's why the people and the states need to take matters into their own hands. If we want a financially strong country to pass on to our children and grandchildren, we need to force Congress to be fiscally responsible -- and we can do it with a Convention of States.
An Article V Convention of States is called and controlled by the states and has the power to propose constitutional amendments. These amendments can mandate a balanced budget, cap spending, and limit taxation. Taken together, this complete package of amendments can force Congress to cut spending and get our nation back on a firm financial footing.
We should never be at China's beck and call. It's time to reduce the debt, limit the deficit, and ensure a secure future for our kids.
Millions of Americans have signed on to the movement, and 15 states have passed the Convention of States Resolution. Sign the petition below to get involved!
