- Congress & the President of the United States
- United States of America
America owns nearly $270 Trillion in assets in the form of nearly a million separate real assets covering more than 3 billion sq. ft.; Mineral rights, on and offshore, covering 2.515 billion acres of land (more than the total surface land in Canada); 45,190 underutilized buildings, the operating costs of which are $1.66 billion annually; Oil and gas resources on and offshore worth $128 trillion, roughly five times America's national debt; and finally, almost a $1 Trillion in Gold.
The US Government appears disinterested in dealing with the National Debt in any substantive way that IMMEDIATELY reduces that debt. When politicians pay lip service to our debt, they only consider tax increases or spending cuts as deficit reductions aimed at creating budgetary surpluses to pay down America's out-of-control debt. It's NOT going to happen in our lifetime without some extreme help. With the addition of the $2T in CARE Act stimulus bailout, America now owes $26,000,000,000,000 ($26 Trillion) SPENT since Bill Clinton was in office in the 1990's.
Every balance sheet has TWO SIDES, assets and liabilities. Our National Debt occupies the LIABILITY side of the balance sheet. Rarely considered is the ASSET side of AMERICA'S balance sheet which holds the KEY to eliminating our nation's national debt. Think of it like this. If your household spent a decade accumulating debt on credit cards, consumer loans, and IOU's, and now you are not even able to make the interest payment on that debt (much less pay it off), you would turn to your assets for some immediate relief. Lets say you own 3 late model vehicles and a second home, and selling 2 of the cars and the second home would raise enough money to completely PAYOFF your debt. Same with America. We'll never tax or grow our way out of the mountain of debt we have now accumulated. Let's NOT leave it to our kids, their kids, or worse.
AMERICA NEEDS TO:
1) SELL ENOUGH ASSETS to Payoff our National Debt;
2) PASS LEGISLATION to ensure we CAN NEVER get here again.
Wars, recessions, out-of-control spending, and now COVID-19 have all contributed to our run away National Debt. Our children, grand children, or great grandchildren may lead impoverished lives if WE don't do something NOW to stop the debt clock and eliminate the debt WE accumulated but are asking future generations to payoff. Please sign the petition demanding Congress and the President SELL roughly 10% of America's assets to payoff the debt AND pass legislation requiring a BALANCED ANNUAL BUDGET amendment to the US Constitution. If you don't mind, please also consider a small petition sponsorship donation to enable us to take this important petition VIRAL, and gather tens of millions of signatures to COMPEL CONGRESS to act NOW! Thank you. Please sign...
"We, the undersigned, call on the United States Congress and President to:
1) IMMEDIATELY sell enough U.S. Assets to completely PAYOFF the current National Debt;
2) Pass legislation that amends the U.S. Constitution to include a BALANCED BUDGET provision that:
a. permits ZERO deficit spending;
b. requires passage of an annual budget;
c. disallows further use of continuing resolutions (CR) in place of budgets."
The Support A “National Debt” FREE AMERICA petition to Congress & the President of the United States was written by NC-VA Coalition and is in the category Government at GoPetition.