Timothy Mooney is the National Coordinator of DeficitFree.com, a movement to enact a Balanced Budget Constitutional Amendment. Mooney is also a partner with Silver Bullet, a leading grassroots politics and ballot initiative management firm. He has worked with some of America’s leading trade associations, corporations, and elected officials. His experience stretches 14 election cycles and has included work in 40 states on issues such as tax limits, term limits, tort reform, government reform and educational accountability.
Timothy Mooney
A Balanced Budget Amendment…Before It’s Too Late!
by Timothy MooneyThis week, the US federal debt surpassed the $12 Trillion threshold.
Congress will vote in December to extend America’s indebtedness above $12,100,000,000,000, necessitated because our national debt grew last year by more than $1,400,000,000,000 and will grow this year by $1,400,000,000,000. According to the Obama White House estimates, the national debt will continue to grow by more than $1 trillion for the next nine years. Except it won’t…because it can’t. There just isn’t $9 Trillion to borrow.
For years we’ve heard about the immorality of putting this debt on our grandkids. Forget the grandkids, our economy is at grave risk of collapse right now!
The dollar is in free-fall. The Ponzi scheme Congress calls Social Security is about to collapse. Foreigners are beginning to balk at loaning the US government more money. That grave economic turmoil our debt and deficit will cause in the future? It’s here now.
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