It’s a mathematical certainty that we will go bankrupt unless we take action NOW!

Over the last 10 years, our national debt has more than doubled from $19 trillion to $39 trillion (That first $19 trillion took us 240 years to amass!). At the current trajectory, our economy will collapse in the next 10-20 years with debt levels up to $156 trillion. The threat of a systemic collapse is no longer simply theoretical. The warning signs are clear: we are running out of time to course-correct before it's too late. As we approach the 100-year anniversary of the Great Depression, we are poised to enter a 21st Century Depression of all Depressions. Bread lines, families forced onto the streets, and the destruction of the middle class would all become realities once again.

The 1930s Great Depression brought about a 60% drop in wages, a 25% unemployment rate, a nearly 30% decline in real GDP, and 9,000 bank failures.  Given how hyper-connected global markets are today, and our significantly higher debt-to-GDP ratio, a modern-day depression would put those statistics to shame. This is a reality we cannot afford, but also one that we can avoid if we act now.

1. Congress must establish a bipartisan commission of experts to analyze how to recalibrate all entitlement programs to become sustainable.
2. Congress must enact a mandate that all annual budgets be limited to a ‘sustainable’ deficit of 2-3% (matching our annual GDP growth). This should include allowances for recessions and emergency conditions.
3. Compensation for congressional members and staffers will be suspended until a qualified budget is passed. (Like the rest of us: do your job, or don’t get paid!)