A Balanced Budget Amendment…Before It’s Too Late!

This 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.

(more…)