Target: Susan Collins, Chair of U.S. Senate Appropriations Committee
Goal: Implement urgent measures to rein in America’s out-of-control deficit.
The extreme volatility of cryptocurrency and the stock market have deepened concerns about a potential economic crisis in America. Even gold purchases – a typical safe haven for worried investors – have experienced extreme highs and lows. But perhaps the most troublesome indicator of economic hard times is the multi-trillion-dollar national debt.
The national debt now exceeds 100 percent of the country’s Gross Domestic Product, or GDP. Countries that have been holders of the debt are having serious reservations, as the United States is quickly reaching a point where it owes more money than it is worth. In other nations, such a grim marker has triggered an avalanche of crises that impacted living standards. Greece, for example, experienced a Great Recession brought about by massive drops in consumer confidence, big spending cuts, and a loss of GDP. Unemployment soared during this time.
Sign the petition below to urge a renewed focus on the national debt and averting a worst-case scenario.
PETITION LETTER:
Dear Senator Collins,
The national debt now stands at 100 percent of gross domestic product. Serious concerns have multiplied about the possibility of an austerity crisis, a default crisis, a currency crisis, or some combination of the above. With consumer confidence falling, stock and cryptocurrency on a roller coaster, inflationary practices brewing, interest rates becoming a political yo-yo, and even historically stable gold undergoing a rough patch, the perfect storm for a full-blown economic catastrophe is on the horizon.
The endless continuous resolutions are not helping. The U.S. desperately needs a firm and fixed budget that does not put further strain on the gargantuan 30-plus-trillion-dollar deficit. Return to a time when elected representatives actually cared about this down payment on a worse outcome for future generations. Reach across the aisle and work together on a comprehensive proposal that finally confronts America’s economic ball and chain and that begins the complicated but essential process of paying down an unsustainable debt.
Sincerely,
[Your Name Here]
Photo Credit: Nicola Barts
