There are real consequences to the growing national debt.
We may not feel them now, but our children will. And their children. And their children.
As Romina Boccia over at The Daily Signal points out, these consequences could be coming sooner than we realize.
U.S. public debt is projected to exceed 100 percent of gross domestic product in the next 10 years and continue growing on a rapid, upward trajectory from there.
The consequences are far-reaching, from higher interest rates to lower economic growth, and the potential for a severe fiscal crisis and a reduced ability to meet national security demands to keep America and its allies safe.
And yet, instead of engaging in crisis prevention efforts, legislators are still looking the other way and further worsening the dooming fiscal outlook by voting for big spending packages that fuel already heightened deficit spending.
The 2018 “cromnibus” package, which busted the budget caps by $300 billion over just two years, is merely the latest example.
The sad part is that this overspending is wholly unnecessary for the federal government to carry out its constitutional responsibilities.
The coming crisis is one of Congress’ own making. Starting decades ago and repeatedly since, Congresses have promised far more in benefits than they ever made provision for the American people to pay for.
All gain and no pain simply can’t go on forever. What sounds too good to be true probably is.
The Founders knew this might happen one day. They knew federal officials might put their own priorities ahead of the country's, and they gave us a way to get back on track in Article V of the Constitution.
Article V allows the people, acting through the states, to call a Convention of States for the purpose of proposing amendments to the U.S. Constitution.
These amendments can force Congress to do what it will never do on its own. A Convention of States can propose a balanced budget amendment, along with spending limits and tax caps.
It isn't too late to reverse course. But we need to act quickly to avoid falling off the fiscal cliff.
It's time to take a stand to protect the financial stability of future generations. It's time to call a Convention of States.
Sign the Petition below to voice your support!
