Record national debt should be call to action, no matter your politics
When it comes to our national debt, February set a record that should get the attention of every American.
The Treasury Department reported late last month that the federal government posted the largest monthly budget deficit in history in February, with outlays exceeding revenues by a staggering $234 billion.
This was 8 percent larger than the $215 billion recorded in February 2018, and it’s clearly going in the wrong direction.
What will this cost us if we don’t reverse the course?
“A child born today inherits more than a $67,000 share of the combined U.S. debt. We need a balanced budget amendment for the sake of our children and their children,” read an alarming tweet recently.
The tweet was sent by former Wisconsin Gov. Scott Walker, a fiscal conservative, but could easily have come from a progressive Democrat.
It should be a call to action, no matter your politics. And as Democrats announce one after another for the presidency, we should hear this from all of them. In fact, it should be one of the top questions of every debate, and it should be asked of President Trump at every opportunity.
The fiscal shortfall is widening following Trump’s $1.5 trillion tax-cuts package that’s weighing on receipts and raising concerns about the national debt load.
Walker is now serving as national honorary chairman of the Center for State-led National Debt Solutions’ campaign to convene an unprecedented U.S. constitutional convention to balance the federal budget.
In 2017, Wisconsin became the 28th state to request an Article V convention — named for the article of the U.S. Constitution that sanctions the process. According to the Constitution, two-thirds of the states (34) must request such a convention for one to occur.
Walker will lead a campaign to get six more states to make the request. Any constitutional amendments proposed during a convention would have to be ratified by three-fourths of states (38).
“With Gov. Walker’s involvement, the national campaign for a balanced budget amendment finally has the high-profile leader it has lacked,” said the center’s president Loren Enns.
The effort should get attention as Americans learn more about the problem and ask the candidates and their representatives at every opportunity what they are going to do about it.
— Kenosha News