One compelling reason is it seems undemocratic for one generation of Americans to impose debt on future generations of Americans that had no say whatsoever in incurring that debt.
A balanced budget is also among the Top 6 reforms our workshop participants and online voters said would make the biggest difference in restoring their trust and confidence in our American political process.
The key is to design an amendment (1) that balances the budget (should Congress fail to do so), and (2) will be supported by the vast majority of Americans.
Please VOTE on the following SAMPLE proposed amendment to the constitution and let’s work together to give the American people what they want. Know of any similar proposals? Send them our way!
BB1 – Beginning in 2020, (1) two percent of federal spending shall be set aside for emergencies and (2) federal spending shall not exceed the combination of revenue and funds set aside for emergencies. Any overspending by Congress shall be immediately recouped with one-half coming from an equal increase in the federal income rates and one-half coming through a pro rata reduction in government services.*
* For example, if the income rate had to be increased by 1%, each tax rate would increase by 1% of the current rate i.e. the 15.0% tax rate would increase by 1% to 15.15%; the 25% tax rate would increase by 1% to 25.25%; etc. If the government spending had to be decreased by 1%, then every item of federal spending would be reduced by 1%.
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►If you haven’t told us what you think would make the biggest difference in restoring your trust and confidence in our American political process, please do so here.
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