Liberty Project -Balanced Budget Amendment: 22 States Have Active Applications

While I think we need many more amendments, especially one for term limits, here is the progress report on the balanced budget amendment. The map is from Demand Balance Now.

The U.S.A. has a debt totaling over 17 trillion dollars. According to the U.S. Treasury Department the total U.S. debt has increased every year since 1957.The Congressional Budget offices estimates that we will be $27.2 trillion in debt by 2024 if we stay on this course, averaging an increase of one trillion dollars per year. America spends approximately $6.8 million dollars per minute.

“Now only 10 countries out of world’s 193 have a higher total debt to G.D.P. ratio than does the U.S. (107 percent). That list includes: Greece – 159 percent, Jamaica-147 percent, Italy-127 percent and Portugal-123 percent.” I.M.F.

22 states have active applications to hold an Article V convention to draft a balanced budget amendment. Only 12 more states to go (And they all have to pass) until we can have an interstate meeting.

We the undersigned have long observed the federal government accumulate a debt, now totaling OVER 17 TRILLION DOLLARS, which is an immediate threat to our children’s future and our nation’s fiscal trajectory. We the undersigned have lost faith in the federal government’s ability to RESPONSIBLY MANAGE and control its own budget and spending. Therefore, for the sake of our children and our country’s future, we the undersigned pledge our support and hereby call for a state led Article V Constitutional Convention convened for the limited purpose of passing a Balanced Budget Amendment to the United States Constitution. From Demand Balance Now

Growing Chorus Of State Lawmakers Call for Constitutional Convention To Force Fiscal Discipline in Washington