.
Like Rome, our politicians babble on and on, while beating their chests and complaining about our enormous national debt, which is now at a staggering $222 TRILLION _ including unfunded debt liabilities (3rd-rail budget items) but not one Republican, Democrat or Independent, who has participated in bringing us to our suicidal and present financial state of affairs __ has proposed a structural mechanism under our rule of law, which requires a year’s end deficit that has been funded by borrowing to be immediately extinguished the following year by specific tax-raising legislation to extinguish that deficit, which would prevent a deficit being permanently added to our national debt.
Did our Founders intend to allow any year end deficiencies funded by borrowing to accumulate from year to year, and, etc.? Of course not, as a number of our State Ratification documents of our Constitution confirm, e.g, see the Ratification of the Constitution by the State of Massachusetts; February 6, 1788:
”Fourthly, That Congress do not lay direct Taxes but when the Monies arising from the Impost & Excise are insufficient for the publick exigencies nor then until Congress shall have first made a requisition upon the States to assess levy & pay their respective proportions of such Requisition agreeably to the Census fixed in the said Constitution; in such way & manner as the Legislature of the States shall think best, & in such case if any State shall neglect or refuse to pay its proportion pursuant to such requisition then Congress may assess & levy such State’s proportion together with interest thereon at the rate of Six per cent per annum from the time of payment prescribed in such requisition…”
And there you have it, our Founder’s remedy__ currently promoted as The Fair Share Balanced Budget Amendment ___ a remedy which requires, upon the creation of a federal deficit funded by borrowing, that each state’s Congressional Delegation is to return to their own state with a bill in hand for their State to pay out of its own treasury an apportioned share to extinguish that deficit, at which time a shocking moment of real accountability is created, and particular so when the people of each state and their State Legislature and Governor, quickly learn, there is no free lunch coming from Washington.
For those interested in the first time this apportioned direct tax was used and each state’s share of the tax including its particulars, see: Chap. LXXV. An Act to lay and collect a direct tax within the United States, July 14, 1798
As Thomas Jefferson cautiously warned, "In matters of power let no more be heard of confidence in men, but bind him down from mischief by the chains of the Constitution. ... Thomas Jefferson’s Fair Copy of the Kentucky Resolutions of 1798
When will one of our members of Congress, or even President-elect Trump, propose a structural mechanism under rule of law, requiring an annual deficit to be extinguish the following year?
.
.
Like Rome, our politicians babble on and on, while beating their chests and complaining about our enormous national debt, which is now at a staggering $222 TRILLION _ including unfunded debt liabilities (3rd-rail budget items) but not one Republican, Democrat or Independent, who has participated in bringing us to our suicidal and present financial state of affairs __ has proposed a structural mechanism under our rule of law, which requires a year’s end deficit that has been funded by borrowing to be immediately extinguished the following year by specific tax-raising legislation to extinguish that deficit, which would prevent a deficit being permanently added to our national debt.
Did our Founders intend to allow any year end deficiencies funded by borrowing to accumulate from year to year, and, etc.? Of course not, as a number of our State Ratification documents of our Constitution confirm, e.g, see the Ratification of the Constitution by the State of Massachusetts; February 6, 1788:
”Fourthly, That Congress do not lay direct Taxes but when the Monies arising from the Impost & Excise are insufficient for the publick exigencies nor then until Congress shall have first made a requisition upon the States to assess levy & pay their respective proportions of such Requisition agreeably to the Census fixed in the said Constitution; in such way & manner as the Legislature of the States shall think best, & in such case if any State shall neglect or refuse to pay its proportion pursuant to such requisition then Congress may assess & levy such State’s proportion together with interest thereon at the rate of Six per cent per annum from the time of payment prescribed in such requisition…”
And there you have it, our Founder’s remedy__ currently promoted as The Fair Share Balanced Budget Amendment ___ a remedy which requires, upon the creation of a federal deficit funded by borrowing, that each state’s Congressional Delegation is to return to their own state with a bill in hand for their State to pay out of its own treasury an apportioned share to extinguish that deficit, at which time a shocking moment of real accountability is created, and particular so when the people of each state and their State Legislature and Governor, quickly learn, there is no free lunch coming from Washington.
For those interested in the first time this apportioned direct tax was used and each state’s share of the tax including its particulars, see: Chap. LXXV. An Act to lay and collect a direct tax within the United States, July 14, 1798
As Thomas Jefferson cautiously warned, "In matters of power let no more be heard of confidence in men, but bind him down from mischief by the chains of the Constitution. ... Thomas Jefferson’s Fair Copy of the Kentucky Resolutions of 1798
When will one of our members of Congress, or even President-elect Trump, propose a structural mechanism under rule of law, requiring an annual deficit to be extinguish the following year?
.
.
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