Thread: Neither Musk nor Vivek proposes a remedy to deal with Congress's annual deficits+

It seems that both Elon Musk and Vivek Ramaswamy are well meaning. But finding ways to cut existing wasteful federal spending, which seems to be their primary objective, does nothing to correct the root cause which has allow Congress to accumulate a national debt of $222 TRILLION, which includes unfunded debt liabilities.


That root cause is, there is no structural mechanism into our constitution, or ordinary legislation, which requires Congress to extinguish a current year’s deficit the following year brought on by reckless spending and borrowing, nor any rule which encourages each State’s Congressional Delegation, while in Washington, D.C., to adopt sound fiscal policies to avoid having to borrow to meet a current year's necessities.


The sad truth is, Congress has proven it is incapable or unwilling to act fiscally responsible, has plundered the U.S. Treasury of untold $Trillions during the past thirty years or so, which find their way into the pocket of political campaign donors, or simply fattens the fortunes of Washington’s inner circle friends, here and abroad, and has gone far beyond spending for the United States’ common defense and general welfares specified list of particulars found beneath Article 1, Section 8.


And that is exactly why we need to add a structural mechanism into our rule of law system, which not only encourages each State’s Congressional Delegation to adopt sound fiscal policies while in Washington, D.C,, but is also designed to extinguish an annual deficiency from revenue raised during the course of a fiscal year from imposts, duties and excise taxes (Congress’s normal means of raising a federal revenue) and Congress borrows to meet its expenses.


One such proposal is, the Fair Share Balanced Budget Amendment, (see HERE for particulars) which ought to be considered as it does not put any limits on the amount of revenue Congress may raise, it does not cut any spending whatsoever, but merely requires an enforcement of what our Founders intended as found in various state Ratification documents of our Constitution, 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, folks. 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, 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 by Congress and each state’s share of the tax, including the particulars in raising the tax, 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 is to be extinguish the following year?


Why is there such resistance to deal with this pressing matter which is a ticking time bomb for our children and grandchildren if left unattended to, and is partly our creation?


JWK


We are here today and gone tomorrow, but what is most important is what we do in-between and is what our children will inherit and remember us by.

Didn't they campaign on just this key point?

Guess I missed something

$222 Trillion?

One million seconds is about 11 and a half days.
One billion seconds is about 32 years.
One trillion seconds is 32,000 years

Therefore, 222 trillion x 32,000 years = 7,104,000 years

Paying back is out of the question.

Originally Posted by GaiaGoddess

Didn't they campaign on just this key point?

Guess I missed something

$222 Trillion?

One million seconds is about 11 and a half days.
One billion seconds is about 32 years.
One trillion seconds is 32,000 years

Therefore, 222 trillion x 32,000 years = 7,104,000 years

Paying back is out of the question.

Well, at this point in time, and before we are over the cliff and falling, there is a logical choice which ought to be made, and pronto!

Requiring a current year’s deficit to be immediately extinguished the following year, as proposed under the Fair Share Balanced Budget Amendment, at a minimum would put on the brakes and stop Congress from recklessly adding to our national debt, and before we are over the cliff and falling.

.
The gross domestic product of the United States is about $27360.94

Total annual interest on the United States debt is about $1TRILLION


While DOGE is focused on a symptom which is reckless spending, our national debt, including unfunded debt liabilities, is exploding beyond figures ever recorded in any nation's history.

Requiring a current year’s deficit to immediately be extinguished the following year, as proposed under the Fair Share Balanced Budget Amendment, at a minimum would effectively put on the brakes and stop Congress from recklessly adding to our national debt.

See Musk 'terrified' by $36 trillion US national debt

Musk, alongside fellow billionaire Vivek Ramaswamy, has been tasked by the President-elect with addressing the country's surging debt. On November 12, Donald Trump announced that the two would serve as co-heads of the Department of Government Efficiency (DOGE), a newly created entity focused on reducing government expenditures, slashing regulations and enacting cost-cutting initiatives throughout the federal government.

The question is, has Elon Musk or Vivek Ramaswamy ___ our DOGE team leadership ___ ever commented on adopting a federal balanced budget amendment? I can't seem to find any such quotes.

I'm really curious if either has made such comments. If not, I wonder why considering the ability of Congress to add, year after year to our national debt without consequences seems to be the root cause of the symptoms these two have been assigned to deal with. Why ignore the root cause and only deal with the symptoms?

What say you?

Thanks for your excellent research and comments on the Federal Reserve!

Getting back to the subject of the thread . . .


Is it not a self-evident fact that requiring Congress to immediately pay a current year’s debt created by Congress’s borrowing the following year would effectively end adding to our national debt?


I am astonished to realize the above mentioned root cause of our national debt increasing year after year has not been mentioned by the DOGE team. I wonder why they have not focused in on the root cause. There appears to be something fishy going on. Why focus on the symptoms and not the cause?

JWK

When violent hate America demonstrations occur in the U.S. (as they now are) and terrorist attacks begin on American soil, also now occurring, let us not forget it was the current Democrat Party Leadership who encouraged and invited millions upon millions of poverty-stricken, poorly educated, low-skilled, diseased, disabled, criminal, un-vetted terrorist and religious fanatic foreign nationals, into our country.

Originally Posted by johnwk

Getting back to the subject of the thread . . .

It appears as though the Congress and all involved at that level have been told to spend as you like.

The debt will NEITHER be addressed nor paid.

Instead, they have been planning to replace the global financial system (see FedNOW):
https://www.federalreserve.gov/payme...dnow_about.htm
https://www.frbservices.org/financia...now/about.html

This new system is based on very tight control using digital monies and tokens where ALL global assets will be tokenized.

These tokenized assets will be setup to fall into their Control as people default on their strict guidelines, making it so that the Controllers "Own it All."

"You will own nothing and be happy," Klaus Schwab's statement refers to this future planned reality.

They have been building this NEW financial platform in the background and when it is ready to rollout, then they will create a "polycrisis" to do so. They have already announced the "polycrisis" technique as their next mechanism to reign in more control.

Originally Posted by GaiaGoddess

It appears as though the Congress and all involved at that level have been told to spend as you like.

The debt will NEITHER be addressed nor paid.

Instead, they have been planning to replace the global financial system (see FedNOW):
https://www.federalreserve.gov/payme...dnow_about.htm
https://www.frbservices.org/financia...now/about.html

This new system is based on very tight control using digital monies and tokens where ALL global assets will be tokenized.

These tokenized assets will be setup to fall into their Control as people default on their strict guidelines, making it so that the Controllers "Own it All."

"You will own nothing and be happy," Klaus Schwab's statement refers to this future planned reality.

They have been building this NEW financial platform in the background and when it is ready to rollout, then they will create a "polycrisis" to do so. They have already announced the "polycrisis" technique as their next mechanism to reign in more control.

If there ever was a notoriously evil tool to enslave a nation's population, that tool would in fact be a digital currency. To understand the threat, see: China’s Digital Yuan: A Threat to Freedom

Forewarned is forearmed.

JWK

When violent hate America demonstrations occur in the U.S. (as they now are) and terrorist attacks begin on American soil, also now occurring, let us not forget it was the current Democrat Party Leadership who encouraged and invited millions upon millions of poverty-stricken, poorly educated, low-skilled, diseased, disabled, criminal, un-vetted terrorist and religious fanatic foreign nationals, into our country.