According to an op-ed by Peter Svab and published by “The Epoch Times,” “The U.S. federal government has borrowed so much money that, over the past year, it has had to spend one-fifth of all the money it collected just on debt interest–which came to almost $880 billion.”
(Sidebar: Think about the other programs that could have been funded with $880 billion)
“The problem is serious because, any way you cut it, taxpayers are paying interest on the mountain of debt that has been accumulated,” said Steve Hanke, a professor of applied economics at Johns Hopkins University (and a Federal Fiscal Sustainability board member). “In short, they are paying something for nothing.” Congress must dramatically curb deficit spending to instill confidence in investors—who seem to be losing faith in America’s ability to satisfy its obligations, some suggest.”
FFSF: When will “we, the taxpayers,” voice our concerns about the out-of-control debt problem? Before or after the tipping point? The time for staying silent has passed. Contact your U.S. House Representative and tell him/her to vote for HCR-24 to Call a Convention of States so the States can take a course of action to return the country to fiscal sustainability.