Commentary: How To End the Debt Ceiling Charade

Commentary: How To End the Debt Ceiling Charade

Amend the Constitution before it’s too late

Thomas Jefferson once wrote that he wished for a single additional amendment to the U.S. Constitution, one that removed the federal government’s power to borrow. That wish is yet to come to fruition, but bipartisan financial impotence at the federal level makes a constitutional constraint more necessary than ever.

The official $14.5 trillion debt roughly equals the nation’s annual economic output, but contrary to claims, federal politicians have failed to cut a billion dollars in spending. Forget the $1.4 trillion dollar cut necessary to balance the books in 2011, as the Congressional Budget Office projects. And even that wouldn’t address the $211 trillion of unfunded liabilities, as estimated by Larry Kotlikoff, a Boston University economics professor and author of The Coming Generational Storm.

Click here to read the full commentary from The American Conservative.

Want more? Get stories like this delivered straight to your inbox.

Thank you, we'll keep you informed!

By sharing your phone number and/or email address, you consent to receive emails, calls, and texts from Pelican Action. You may opt-out at any time.

Sign Up for Free Swag Delivered!

We're shipping Louisiana residents and supporters free swag! Simply fill out the form below.