“We shall all consider ourselves unauthorized to saddle posterity with our debts, and morally bound to pay them ourselves.”
— Thomas Jefferson
We are Facing a Grave National Crisis
The U.S. debt ($34.6 trillion) is nearly eight times federal revenue ($4.5 trillion) and 125% of GDP ($26 trillion). As Congress borrows $2 trillion more each year (to fund 33% of the federal budget), it is only a matter of time until disaster strikes.
This Calls for a Constitutional Solution
The only permanent fix is for the STATES to force the adoption of a Balanced Budget Amendment (BBA). Here’s how:
- Two-thirds of the state legislatures (34/50) must call for a convention to propose a BBA, and three-quarters of the states (38/50) must ratify it.
Fortunately, we already have 27 of the 34 states required to call a convention to propose a BBA. However, there is a catch:
- We don’t actually want a convention. We want to use the threat of a convention, achieved at 33 states, to force Congress to propose a BBA.
Historic Precedent
We know the 33-state strategy will work because the threat of a convention is what forced Congress to propose the 17th Amendment for ratification by the states.
With 27 states on board, we only need 6 more to force Congress to propose a Balanced Budget Amendment for ratification.