The US national debt is nearly $16 trillion (as of this writing). It is increasing every day by almost $4 billion — billion!
Critics of a balanced budget amendment argue that, in times of national emergency or war, Congress needs the authority to spend more than it brings in.
Whether you believe that or not, it’s sadly clear that neither Congress nor the President take ownership of the debt. They create it, but are not responsible for it.
What can we do? Here’s an alternative to a balanced budget amendment:
Per capita, each person in America “owns” $50,000 in Federal debt.
Congress and the President should deduct from their salaries their share of the debt, every year. This could be done legislatively, or as an amendment.
Every candidate should be asked: if you believe in what you are proposing to spend, will you shoulder your personal burden of that expense you are creating by deducting that amount from your salary and returning it to the Treasury?
And while you’re at it, what about your family’s share?