The national debt is rising. So are federal taxes.
The two compliment and reinforce one another, propelling our nation into a never-ending spiral of fiscal insolvency.
If you think that's an exaggeration, check out this recent report from CNS.com.
President Obama has collected $19,966,110,000,000 from the American people during his first 90 months in office. That's nearly 20 percent more than President Bush collected during his first 90 months, and he wasn't exactly known for fiscal restraint.
If the feds collected so much from the American people, one would expect the national debt to have, if not shrunk, at least held steady. Right?
Wrong.
Over the same 90 months, our nation's debt rose from $10,632,005,246,736.97 to $19,427,694,579,786.64—an increase of $8,795,689,333,049.67.
Here's a helpful graph.
Those two bars will continue to rise unless the American people step in and take action. Federal officials have proven incapable of responsible spending, and they're unlikely to change their ways any time soon.
That's why the Founders included the Convention of States option in Article V of the Constitution. A Convention of States can propose constitutional amendments that force D.C. to be fiscally responsible. These amendments can include a balanced budget amendment to address the national debt as well as spending caps and tax limitations.
