Shredding the Federal Credit Card

February 13, 2011 by  

The U.S. federal debt is now more than 100% of our national GDP (Gross Domestic Product) – over $15 trillion and rising.  That translates to $45,000 of debt for every man, woman and child in the U.S. or $126,000 per taxpaying citizen.

Because they are unwilling to address the elephant in the living room, the states must force Congress to resolve America’s immoral debt crisis – the issue that is threatening America’s economic future.

How can the states act ? Our founders wisely foresaw the need to write Article V into the U.S. Constitution – an amendments process by which the states may balance the power between Congress and the states if and when their government goes astray

The Federal Debt Amendment is a total of 18 words:   “An increase in the federal debt requires approval from a majority of the legislatures of the separate States.”

For more information – view the Senate Committee hearing here.

Watch the press conference:  http://www.youtube.com/watch?v=KtUIn7zEh7k

www.RestoringFreedom.org has a great Q&A with the Goldwater Institute about the facts and fallacies regarding  Constitutional Conventions and how the amendment works.

Rep. John Kavanagh and Sen. Nancy Barto are sponsored the legislation in both the House and the Senate, as did nine other states.

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