Today, Reps. Pence and Hensarling, proposed an Amendment that would limit the amount of money the government spends to 20% of the GDP. This will ensure that the government will not pile onto the enormous debt we have already. This is a common sense solution to the problem of the ever increasing spending spree that CONgress critters and politicians in general like to do when in power.
There are some ways around the 20% amount though, in a time of war or if 2/3 majority of the Congress votes for the increase. The 20% figure is the average amount of government spending since WWII, and is a good baseline for spending. Over the last few years, expenditures compared to the GDP has skyrocketed and will continue to do so in the future based on current budget proposals.
We need some kind of sanity and fiscal responsibility coming from DC, and I think this would be a good way to stop the madness. The days of spending like drunken sailors is over and we need to get back a sense of thriftiness and be better stewards of the peoples’ money.
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