For every dollar the federal government spends, it adds roughly 35 cents to the federal debt. We are still paying for debt dating as far back as the late 1800s. This is completely unsustainable for any nation and will only result in the complete collapse of the US economy. The Federal Debt represents the greatest threat to our nation. We need to stop adding to it and eliminate it as fast as we can.
Zachary Knight proposes the following:
- Locking all Federal spending to inflation. If we do this alone, we can close the budget deficit in 10 years’ time.
- Requiring that all spending proposals be accompanied by a companion bill that eliminates spending of at least double what is requested.
- Close all Federal programs and institutions not explicitly authorized the US Constitution.