Much Talk but No Action on $22 Trillion Debt – by Stuart MacPhail April 2019 In early March Utah Congressman Ben McAdams testified before the House Budget Committee, warning that interest on America’s $22 trillion debt has become the fastest growing part of the federal budget, saying both parties must work to lower deficits. McAdams,…Read More
New Federal Budget Calculator Offered by America Off Balance During January Danny Heil, a Research Fellow at the Hoover Institution, launched a new web site and federal budgeting tool that will be of special interest to state legislators. American citizens who are concerned about America’s fast growing debt will also find it useful. The site,…Read More
“Restaurant Recession” Hits NYC Following $15 Minimum Wage This will be a rough year for full-service NYC restaurants as they try to navigate a future with significant economic headwinds and significantly higher labor costs from the city’s $15 an hour minimum wage. Mark J. Perry February 22, 2019 An article in the New York Eater (“Restaurateurs Are…Read More
Federal Subsidies Now Pervade Almost Everything Local governments are now dependent on federal subsidies for even the smallest of programs and functions. Chris Edwards February 07, 2019 Can’t anyone do anything in this country without federal subsidies? A friend emailed me a local news story from Lancaster County, Pennsylvania: “Firefighter recruitment ads on hold due…Read More
Panera’s Utopian “Pay What You Can Afford” Experiment Meets a Predictable End Panera Cares’ failure presents a teachable moment during one of the West’s pivotal turning points. Ben Johnson February 14, 2019 Panera has announced that it will close the last of its charitable stores, which allowed people to pay whatever they wished for a…Read More
Much Talk but No Action on $22 Trillion Debt –
by Stuart MacPhail April 2019
In early March Utah Congressman Ben McAdams testified before the House Budget Committee, warning that interest on America’s $22 trillion debt has become the fastest growing part of the federal budget, saying both parties must work to lower deficits.
McAdams, a member of the House Blue Dog Coalition, said “Congress has a bipartisan problem when it comes to running up deficits and debt. It is past time to put our fiscal house in order and commit to making tough choices to reverse this ocean of red ink.” He told the committee that every man, woman, and child in America owes $67,000 as a share of the national debt.
McAdams has sponsored a “No Budget, No Pay” bill that says if Congress fails to do its job passing a budget and funding the government by October 1st, members won’t get paid.
Like so many other members of Congress, McAdams says he also plans to introduce a balanced budget amendment “to put structure in place to enforce fiscal discipline”.
As they have done a number of times, US Senators Chuck Grassley of Iowa and Mike Lee of Utah have introduced a proposed constitutional amendment that would require the federal government to operate under a balanced budget (SJR5).
Meanwhile Congressional Republicans introduced a resolution (HJR149 which has 37 sponsors) declaring the nation’s debt is a security threat. “We introduced this resolution because the United States is racing towards a fiscal cliff,” said Arizona Congressman Andy Biggs. He is the same Andy Biggs who for years (as President of the Arizona Senate) aggressively blocked use of Article V to address the problem.
Will Congress actually take steps to rein-in spending and reduce the national debt? Don’t count on it. Without use of Article V by state legislatures, it will never happen.