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On January 5, Compact for America Education Foundation President & Executive Director Nick Dranias was a guest on Michigan’s Frank Beckmann show. Sitting in for Frank Beckmann and conducting the interview was M. L. Elrick. Dranias discussed his organization Compact for America and their plan to fix the national debt crisis.
According to Dranias, the most realistic solution to resolving the national debt crisis in America is to pass a balanced budget amendment. Dranias uses historical precedence and quotes from the founding fathers to justify this potential amendment.
When advocating a balanced budget amendment, critics will argue our debt may be unnecessarily limited when facing a disaster or crisis that requires an increase in spending. In the interview, Dranias lays out an impressive work-around that would prevent this hypothetical scenario from occurring. Regardless of hypothetical situations, something has to be done.
The current system that we are operating in America is unsustainable. When the government’s spending is unconstrained, it makes it easier for politicians to promise seemingly unlimited entitlements. This causes our debt to balloon with no real end in sight. And eventually, this debt causes instability and dependence. On a whim, China – our largest foreign debt holder – could send our economy reeling if it drastically altered its bond-holding practices. This is not sustainable and is not something we should settle for.
Listen to the interview by clicking on the picture above for more information about the process required to create a balanced budget amendment and other details about the plan.
For even more information, visit the website –> Compact for America