Category: The Article V Solution

Other Countries are putting the “brakes” on spending while the U.S. kicks the can down the road.

  Germany implemented a fiscal sustainability plan similar to the Swiss Debt Brake in 2009 to reign in excess spending. The German Finance Minister reported on Marcy 7, 2023 that the country “is sticking with it.”   Former Magna International CEO Frank Stronach sounded the alarm on Canada’s rising national debt calling it a “ticking timebomb…

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Swiss Debt Brake – What is it? Will it work for the U.S.?

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…

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Why GDP Matters in Debt Ceiling Discussions

Kevin McCarthy unveiled his plan to begin the negotiation process with President Biden. As the negotiations begin, it is important to note that the U.S. Debt Clock shows the U.S. GDP ratio to be 120.35%. Why should we be concerned about GDP? In his 2020 essay published in The Catalyst and titled A Historical Look…

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The U.S. Needs a Budget Straitjacket

Noted professors of economics Steve H. Hanke and Barry W. Poulson assert, “It’s time for Americans to get the bit between their teeth and, via a constitutional convention, rein in Washington’s addiction to fiscal deficits.”  in an Op-ed recently published in the National Review. Read More

Proposing a Fiscal Responsibility Amendment by Dr. Barry Poulson

In his recent article in Human Events, Dr. Barry Poulson observed that “The federal government has incurred deficits and accumulated debt at an unsustainable rate. The statutory fiscal rules enacted to constrain federal spending and debt have been abandoned and the budget process is broken.”  Proposal of a state-led Fiscal Responsibility Amendment ratified by a…

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Fox News: House measure says Congress obligated to call convention for fiscal responsibility amendment

“Beginning in 1979, when Congress appears to have failed in its constitutional duty to count applications and call a ‘convention for proposing amendments’, the nation’s debt has increased to more than $30 trillion from $830 billion while the value of the dollar has declined by over 70%.”  Read the complete  coverage from Fox News on…

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