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LOUISA VIRGINIA
|
Home| About Us| Background | Related Links | Issues | Events | |
LOUISA VIRGINIA
The Problem:
In a number – 13 Trillion and counting!
That amounts to about $45,000.00 for every man, woman, and child in America today!
Background:
This debt was created by a dysfunctional congress pandering to the people by not telling them there is no free lunch and by buying re-election by bribes from special interest. Presidents have been complacent for the same reason plus trying to fight two major wars without paying for them. The populace has been equally complacent for wanting all the “freebies” without having to pay for them.
The Solution:
Pay off the debt over the next 10 years.
The recent Presidential Commission on Debt Reduction Report provides an excellent starting point toward achieving this goal.
Further action must take place as well including:
1.A constitutional amendment requiring an annual balanced budget.
This would include conditions that would allow temporary borrowing when faced with a national emergency such as a major war. Two thirds of each house of congress would be required for such temporary borrowing.
2.A line item veto for the president.