Cato Institute Weighs in on National Debt Crisis
Cato Institute spotlights the dangerously increasing publicly held portion of the national debt in new research. Without even counting the debt held in intergovernmental accounts, the Institute reports: "High and rising debt harms the economy, and it will impose a large burden on future taxpayers. It could lead to a financial crisis, like we have seen in Greece and other nations." Click on the logo for more! #compactforamericacorepriniciples #fiscalpolicyresearch
MI Sen. Ken Horn Explains His Support for the Compact!
Michigan Senator Ken Horn explains his support for the Compact for a Balanced Budget: "Every year over the past five years, the Michigan Legislature has passed a balanced budget ahead of schedule to ensure that our taxpayers are confident that their money is being used responsibly. The federal government needs to do the same." Click on the picture for more! #compactforamericacorepriniciples
Michigan Senate Passes Compact Bill This Constitution Day!
The Compact for a Balanced Budget Commission and the Compact for America team are grateful for the Michigan Senate’s passage of SB306-the Compact for a Balanced Budget! It is our great hope that Michigan will soon join Alaska, Georgia, Mississippi and North Dakota in a binding agreement to advance and ratify a powerful federal Balanced Budget Amendment. As you know, with an unlimited credit card that never has to be repaid, there is no reason for the federal government to bud
FreedomWorks' Ted Abram Blogs on CFA Again!
There's no stopping the guy. Click on the picture to read the latest! #compactforamericacorepriniciples
Exploding Propaganda Series (Part 7 of 7): Section 7's Self-Enforcement Provision
The Compact for a Balanced Budget advances a specific Balanced Budget Amendment that you can read today, and which four states have already contractually committed to ratify. Read it here. Section 7 of the Compact's BBA states that the Amendment is self-enforcing. Strangely, even this provision has drawn the fire of the opposition. The term is included because there is case law that says constitutional provisions are not necessarily effective or enforceable unless enforced by
Award-winning Journalist Carey Pena Interviews CFAEF President Nick Dranias!
Carey Pena covers the Compact for America initiative from her new online independent journalism site! Nick Dranias explains why the political class is ignoring the federal fiscal disaster, why the root cause of unlimited, irresponsible federal policy is Congress' unlimited credit card, why we can expect cross-partisan support for the Compact and what CFA-Action is doing to make that happen. Check out this great 20 minute in-depth interview. #nonpartisanbalancedbudgetamendment
Exploding Propaganda Series (Part 6 of 7): Section 5's Tax Limit
The Compact for a Balanced Budget advances a specific Balanced Budget Amendment that you can read today, and which four states have already contractually committed to ratify. Read it here. Section 5 of the Compact's Balanced Budget Amendment imposes a default rule of requiring two-thirds of each House of Congress to pass any new or increased income or sales tax (including a VAT). It expressly or implicitly excepts from this default rule: 1) revenue increases from a new consum
Exploding Propaganda Series (Post 5 of 7): Section 4's Enforcement Provisions
Section 4 of the Compact's BBA establishes the enforcement mechanism for the debt limit it establishes. It requires the President to specify what spending will not take place when we reach a red zone of borrowing capacity--98% used. It empowers Congress to override the President's "impoundments" in 30 days with equal or greater amounts. To encourage accountability for the Country's Chief Executive, the Amendment specifies that the President's failure to enforce the debt limit
Exploding Propaganda Series (Part 4 of 7): Section 3's "External Discipline" Requireme
The Compact for a Balanced Budget advances a specific Balanced Budget Amendment that you can read today, and which four states have already contractually committed to ratify. Read it here.
Section 3 of the Compact's Balanced Budget Amendment fleshes out the process by which the states approve increases in the constitutional debt limit set by section 2. The opposition typically criticizes the mechanics of the state approval process for increases in the constitutional debt li
Exploding Propaganda Series (Part 3 of 7): Section 2's Constitutional Debt Limit
The Compact for a Balanced Budget advances a specific Balanced Budget Amendment that you can read today, and which four states have already contractually committed to ratify. Read it here.
Section 2 of the Compact's Balanced Budget Amendment limits the federal government's borrowing capacity, initially, to no more than 105% of the outstanding full faith and credit debt owed by the federal government on ratification of the amendment. So if $20 trillion in debt were outstandi
