There was a recent political cartoon depicting an elephant and a donkey kicking the proverbial can down the road. It seems that every debt ceiling debate results in more national debt, not less. Isn’t it time to take a stand and do something about the debt to save the country and the future of the next generations?
Last November, Andrew Lautz wrote an article speculating on whether the U.S. could adopt the Swiss Debt Brake. “The Swiss government itself credits the debt brake for the country’s “excellent” fiscal position”.
Mr. Lautz notes in an Op-Ed available on the National Payer’s Foundation website, “A key factor in Switzerland’s manageable debt load – which generally declined as a share of GDP from 2005 through 2019, even as other high-income nations significantly increased debt relative to GDP over the same time period – is the Swiss “debt brake,” a resolution that 85% of Swiss voters approved adding to the country’s Constitution.”