ABOUT THE

Balanced Budget Amendment

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The US deficit is growing out of control. That’s where you come in.

The Problem

According to the CBO’s 2019 Long-Term Budget Outlook, growing deficits are forecast to expand federal debt dramatically over the next 30 years. As borrowing increases, payments on the debt are projected to “more than triple in relation to the size of the economy,” and to surpass discretionary spending by 2046. If current law remains unchanged and federal debt continues to rise as predicted, the CBO anticipates suppressed economic output, reduction in U.S. household income, the increased likelihood of an economic crisis, and less fiscal space for policymakers to respond to national challenges.

What We Can Do About It

In recent polling, a bipartisan 83% of Americans across five diverse states indicated that they want the right to vote on a Balanced Budget Amendment to the U.S. Constitution. Given that opportunity, a Balanced Budget Amendment governed by intelligent fiscal rules could gain constitutional reinforcement and put America back on an economically sustainable path.

Such rules have a track record in several advanced economies around the world, including Switzerland, where a “debt brake” has been in effect since 2003. In the sixteen years since, Switzerland has surpassed the U.S. in per-capita GDP and has reduced debt without raising taxes. In 2010, the CBO projected that, over seventy-five years, the implementation of similar fiscal rules in the U.S. would result in the quadrupling of real potential gross national product per person (from $40,000 to over $160,000), the preserving of reformed entitlement programs for future generations, and the elimination of America’s national debt.

Read more about the Swiss Debt Brake here.

The American People call on Congress to either

Propose a U.S. Balanced Budget Amendment which:

  1. Prohibits total annual federal spending from increasing faster than inflation up to 2% plus population with exceptions for social security and national emergencies.
  2. Stipulates the state convention mode of ratification (a vote of the people).

Or, Pass the Let Us Vote for a Balanced Budget Amendment Resolution that:

  1. Sets the time and place (“call”) for an Article V Convention of States to propose a U.S. Balanced Budget Amendment,
  2. Voids any convention-proposed amendment unrelated to balancing the federal budget and
  3. Stipulates the state convention mode of ratification (a vote of the people).

All Sides Agree: A Balanced Budget Amendment is

A Bi-Partisan Issue