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How the massive federal deficit hurts future generations NOW

Published in Blog on October 19, 2020 by Article V Patriot

We often talk about how we need an Article V Convention of States to save our children and grandchildren from financial collapse. The national debt is out of control, driven by equally out-of-control yearly deficits, and some day our country will find itself on the brink of ruin.

But even today, irresponsible spending by the federal government is costing our children good, high-paying jobs. 

Writing in National Review, economist Douglass Carr outlines the complicated relationship between private savings, investment, the international flow of goods, and government deficits. His full analysis is worth a read, but here's the bottom line:

The common presumption that the federal deficit doesn’t matter is entirely wrong. The deficit bill is being paid now in lower investment, slower growth, and vaporization of above-average middle-class jobs... Reduced growth broadly affects everyone but is especially injurious to younger generations facing a lifetime of fewer and less gainful jobs.

As an example, Carr points to manufacturing jobs. While some of the reduction in manufacturing is due to cyclical factors, Carr explains how negative correlation between federal deficits and manufacturing employment is very high.

Here's a chart to prove it:

In other words, as the national deficits increase, manufacturing jobs in the United States evaporate. There are fewer jobs, and the jobs that do exists don't pay as well. This isn't some future prediction -- we can see this correlation clearly over the last decade. 

We must force Congress to be fiscally responsible. If we want our country to maintain its economic prosperity, the federal government must be compelled to reduce the deficit, lower the debt, and get our nation back on track.

An Article V Convention of States is the only way to force Congress's hand. They'll never willingly give up their ability to spend our money however they want. We must mandate fiscal responsibility by proposing and ratifying constitutional amendments that require a balanced budget, limit taxation, and cap spending. 

Already, 15 states have passed resolutions calling for the first-every Convention of States to limit the power of the federal government, mandate term limits for federal officials, and impose fiscal restraints on Congress. Once 34 states pass matching resolutions, a Convention will be called and We the People will finally be able to hold our officials accountable. 

To join the movement, sign the petition below!

Sign the petition to call for an Article V convention!

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Petition your state legislator

Almost everyone knows that our federal government is on a dangerous course. The unsustainable debt combined with crushing regulations on states and businesses is a recipe for disaster.

What is less known is that the Founders gave state legislatures the power to act as a final check on abuses of power by Washington, DC. Article V of the U.S. Constitution authorizes the state legislatures to call a convention to proposing needed amendments to the Constitution. This process does not require the consent of the federal government in Washington DC.

I support Convention of States; a national movement to call a convention under Article V of the United States Constitution, restricted to proposing amendments that will impose fiscal restraints on the federal government, limit its power and jurisdiction, and impose term limits on its officials and members of Congress.

I want our state to be one of the necessary 34 states to pass a resolution calling for this kind of an Article V convention. You can find a copy of the model resolution and the Article V Pocket Guide (which explains the process and answers many questions) here: https://conventionofstates.com/handbook_pdf

I ask that you support Convention of States and consider becoming a co-sponsor. Please respond to my request by informing the national COS team of your position, or sending them any questions you may have:

info@conventionofstates.com or (540) 441-7227.

Thank you so much for your service to the people of our district.

Respectfully, [Your Name]

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