“I’ve joined the Compact for America team because of the threat to future economic growth and societal stability posed by unlimited federal spending, taxes and borrowing. The Baby Boomer generation is retiring at the clip of 10,000 a day and claims on unfunded entitlement programs are swelling.
I was not originally a strong advocate of a constitutional change to stop runaway government. But after 30 years dedicated to bringing down spending, debt and tax rates, I have come to the conclusion that it is an impossibility for Congress to solve the problem itself. This is like asking a cat to put a bell on itself.
Congress WON'T act without leadership from the states. We need a new fiscal constitution to force action. The Balanced Budget Compact is one of the most realistic ways of achieving this goal. It follows the Constitution by advancing an Amendment generated by the states that will require balanced budgets with strong tax restraints.
It’s simple: a great nation does not borrow $1 trillion a year, year after year.
I believe the Compact’s Balanced Budget Amendment is our best chance to permanently change the dysfunction of Washington fiscal policy. It will allow us to cut taxes and reform the tax system - hopefully leading to a flat or a fair tax. Lower spending and debt will grow the economy.
The states must rise up and take back power from an imperial Washington. I hope you will help us in this crusade and please don't hesitate to contact me with any questions, concerns, or advice.”
Stephen Moore, formerly was a member of The Wall Street Journal’s editorial board. Moore was also the founder and president of the Club for Growth. Over the years, Moore has served as a senior economist at the Congressional Joint Economic Committee, and as a senior economics fellow at the Cato Institute, where he published dozens of studies on federal and state fiscal policy. He was also a consultant to the National Economic Commission in 1987 and research director for President Reagan’s Commission on Privatization. Steve is a Fox News contributor along with writing regularly for National Review, Forbes’, Investor’s Business Daily, The Washington Times, and Orange County Register.