Senator Elizabeth Warren is right: there's an economic crash coming that has the potential to decimate the economy and cause untold hardships for American families across the country.
The cause of that crash, however, is a different story.
In a recent article on Medium.com, Sen. Warren warns of a "precarious economy that is built on debt" that could "cause our economy’s shaky foundation to crumble."
What kind of debt is Sen. Warren referring to? Is it the $22 trillion (and growing) national debt that will soon cause an erosion of economic stability and make us vulnerable to foreign governments?
Nope.
Warren never even mentions the national debt. Instead, she blames American families for their overspending on cars, tuition, and homes.
"Families may be able to afford these debt payments now," she says, "but an increase in interest rates or a slowdown in income could plunge families over a cliff."
Her solution is as predictable as her diagnoses. Rather than forcing Washington to live within its means, she wants to increase the power and jurisdiction of the federal government by imposing even greater regulation on the free market that Americans rely upon for jobs and prosperity.
"Congress and regulators should act immediately to tamp down these threats before it’s too late," she concludes.
Warren believes that economic disaster is coming because Americans and American business owners aren't smart enough to know how to spend their money wisely. To combat these ignorant deplorables, she wants the federal government to step in and impose even stricter top-down regulations that those currently in place.
Unfortunately, Sen. Warren's misdiagnosis of the problem and her belief in federal solutions is all-too-common among D.C. politicians. When you're a hammer, everything looks like a nail, and Washington is more than willing to keep pounding until they break our economy.
That's why millions of Americans have joined the Convention of States Project. An Article V Convention of States has the power to address the real problems plaguing our nation -- the national debt, career politicians, and an overreaching, abusive federal government.
A Convention of States can solve each of these crises via constitutional amendments. These amendments will be proposed at the Convention and must then be ratified by 38 states. Once this occurs, amendments like a balanced budget mandate, spending caps, and term limits will refocus our federal politicians on fixing the problems plaguing our nation's capital -- rather than blaming the American people.
Sign the Convention of States Petition below to show your support!
