As both Democrats and Republicans abandon even the pretext of fiscal responsibility, politicians and pundits from both sides of the aisle have used every excuse under the sun to continue spending taxpayer dollars without regard for future generations.
But the American people must be willing to look honestly at our nation's finances if we want to survive our nation's next crisis. Because here's the truth: we aren't in good shape.
Writing in Business Insider, Brian Hamilton lays out two undeniable truths that should wake up even the least fiscally responsible member of Congress:
- For the past 50 years, the national debt of the country continues to rise. This has been true under both political parties. During the last four years, our national debt has grown a whopping 36%. This will create problems. Would you lend money to someone who never repaid it and kept asking for more money in perpetuity? Or, for investments that clearly don't return enough to pay down the debt over time?
- A rising proportion of what we pay in taxes is going only to mandatory spending, fixed payments on programs like Medicare or financial items like the interest on our outstanding debt that must be funded regardless of the health of the country or our economy. As of now, our country must pay 69.9% of our tax dollars simply to meet fixed obligations that cannot be reduced. In 1962, it was about 32%. You would never lend money to a business that consumes 70% of its revenue just to meet overhead obligations.
Whatever excuses some might use to justify our nation's $27 trillion debt, these two facts are undeniable. And even though we might not be seeing the consequences of our irresponsible spending now, that bill will soon come due.
Unfortunately, Congress doesn't have the spine to limit our nation's spending. Our representatives may not be able to control the 70% of our finances that are locked up in fixed obligations, but they can reduce spending in the other 30%. They won't, of course, because that would be politically damaging and may cost them their next election.
That's why We the People must take matters into our own hands. We must use the power granted to the people and the states under Article V to call a Convention of States and propose constitutional amendments that will force Congress to cut the budget.
These amendments can mandate a balanced budget but prohibit Congress from raising taxes. Such reforms would force our representatives to cut the billions spent every year on useless, wasteful, duplicative programs run by useless, wasteful, and duplicative federal agencies.
Congress won't like it, but they won't have a choice, and our children and grandchildren will be saved from a lifetime of paying off the nation's debts.
To get involved and tell your state reps you want a Convention of States, sign the petition below!
