Quote of the Day:
“Worrying works. About 90% of the things I worry about never happen.”
— Woody Paige, on ESPN’s “Around the Horn”
Congress is going to raise the debt ceiling yet again. They’ve done this 70 times in the past, but this next time should be the last time.
We’ve created a new campaign to help to achieve this. The Republicans are pushing a Balanced Budget Amendment that has some great features. It would:
- mandate that Congress balance the federal budget each year.
- prevent Congress from spending more than 20% of Gross Domestic Product.
- require a 2/3 super-majority to increase your taxes.
This would mean that:
- the debt ceiling would never be raised again.
- the State’s cancerous growth would be checked.
- it would become almost impossible to raise federal taxes.
Here’s the deal:
- If Congress (wrongly) insists on lifting the debt ceiling yet again, then they need to give us something in exchange.
- What we need in exchange is a strong Balanced Budget Amendment.
- To ensure that this is the last time they raise the debt ceiling, we need a strong Balanced Budget Amendment.
Please use our new Balanced Budget Amendment campaign to tell Congress to “make this the last time” they raise the debt ceiling. The hardwired message to Congress for this campaign reads . . .
Please oppose any increase in the federal debt ceiling. Please co-sponsor Senator DeMint’s Balanced Budget Amendment (BBA). ONLY vote to increase the debt ceiling IF it’s attached to Senator DeMint’s BBA.
Here’s what I wrote in my personal comments (which you can borrow from or copy):
Look, you guys have increased the debt ceiling more than 70 times since 1940. That’s not a ceiling; it’s an elevator that only goes up! If you’re going to raise the “ceiling” yet again, then give us taxpayers something in return.
“Make this the LAST TIME” you raise the debt ceiling!
Do that by passing a strong Balanced Budget Amendment. To be strong the amendment MUST at least:
- require a balanced budget.
- cap federal spending at LESS than 20% of GDP.
- protect taxpayers by requiring a 2/3rds vote to raise taxes.
Doing this will have huge benefits:
- Our money will be spent better, because YOU will have to PRIORITIZE
- Less money will go to interest payments on the debt
- There will be more confidence in the dollar, and the creditworthiness of the Federal State
- You’ll be better prepared to handle the unfunded liabilities of the entitlement programs
There is EVERY reason to do this and NO reason to NOT do it. Please be responsible. “Make this the last time” you raise the debt ceiling. If you want to raise the debt ceiling yet again, then pass a strong Balanced Budget Amendment at the same time.
Jim Babka, President