How much of your tax money goes toward servicing the US national debt?

Have you ever given any thought to how your tax payments are allocated?  In her essay, Fox News contributor Megan Henney, writes that “Interest on the U.S. national debt has grown so rapidly that it is now consuming nearly half of all individual personal income taxes.

So far this fiscal year, about 39 cents of every dollar paid in individual income taxes has gone toward paying down the interest on the debt, according to new calculations published by the Committee for a Responsible Federal Budget.

The problem may soon get worse.”

“If federal finances continue on their current path, we are only a few years from the entirety of income taxes being needed to finance the debt,” said EJ Antoni, a research fellow at the Heritage Foundation.”

You can read her entire essay by clicking here.

Sounds dire, doesn’t it?  There is a solution, but it won’t come from the halls of Congress.  The States will have to take the lead to restore financial stability.  You can help by contacting your U.S. House Representative and tell him/her to vote “yes” on HCR-24, a concurrent resolution to demand Congress call an Article V Convention for the states to propose an amendment and “We the People” to ratify it.