Skip to comments.My Proposal to Deal with the Debt Limit Issue
Posted on 01/12/2023 10:54:50 AM PST by Brian Griffin
Perhaps annual increases for a number of years of the debt limit could be traded for partial ratification of a federal expenditure control amendment such as:
If any fiscal year after September 2032 ends in the red, all persons elected to a term of federal office encompassing any portion of that fiscal year shall be forever barred from from obtaining another federal position, another term or any federal origin payment or benefit of any type.
I believe most Republican-run states would ratify such an amendment. To make it likely that it gets ratified by at least 38 states, the debt limit increase would be conditioned on most Democratic-run states ratifying it, perhaps based upon this text:
The federal debt limit shall be raised by $1 trillion annually up to $8 trillion provided that at least 15 of the following states (California, Oregon, Washington, New Mexico, Colorado, Minnesota, Illinois, Michigan, New York, Vermont, New Hampshire, Maine, Massachusetts, Rhode Island, New Jersey, Pennsylvania, Maryland, Virginia, Georgia, Texas, Florida) have ratified without revocation the proposed federal expenditure control amendment.
The list includes a few Republican-run states to get the ratification ball rolling.
The $1 trillion and $8 trillion are about $3,000 and $24,000 per US citizen (and about $12,000 and $96,000 per household for four of them) as of January 1, 2021, respectively.
Why not a balanced budget amendment? Because folks in DC would fudge their estimates and because the proposed federal expenditure control amendment would allow for fiscal years to end in the red provided federal elected officials are willing to get off the federal gravy train forever to fund a war or to beat back a recession.
TCMDO is already 90 trillion.
Fed debt is 32 trillion.
There are only 149 million taxpayers.
Each carries a debt burden of over 200k.
America is broke. Stop printing money.
1. Cut out all federal budget approved job openings.
2. Cut every department and agency by 20%.
3. Consolidate redundant departments and agencies and then go back to number 2.
4. Cut all funding and programs to governments which practice human rights violations.
5. All prison costs for illegal aliens will be charged to the home country. If not paid for in 30 days, all funding and programs to that country will be cut.
Go from there.
2-5 have merit
as for 1, 90% instead of “all” since sometimes new things need to get done
Unfortunately, ‘kick the can down the road’ is DC’s favorite sport, loved by both Republican and Democratic politicians.
“Stop printing money”
I think Weimar Zwei is the Democratic plan, with 10% inflation to erode the burden of ~4% debt.
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