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January 21, 2013

Could “the government” collapse at any moment?

NOTE: Most Congressional updates are done. Several offices lag. As new officeholders make their information available, we will be updating.

Please read the letter below that I sent to Congress this morning. Then do two things . . .

  1. Send a similar letter to your own reps using Downsize DC's “Cut Spending” campaign. You can copy or edit my letter.
  2. Ask friends who agree to do the same. Forward this message.

Here’s what I wrote to my Reps . . .

The Bipartisan Policy Center (http://bit.ly/WiwJwS) claims . . .

  • The federal “government” must borrow to fund 40% of on-going operations.
  • Tax revenues cover only 60%.

They see this as an argument for raising the debt ceiling. I see it as a warning of potential collapse.

What if people or institutions decide to stop lending you money or start charging you more interest?

You won’t be able to keep your promises for Social Security, Medicare, and a thousand other things.

I know, you probably think you can get the Fed to create new currency to pay these bills. But this will flood the market with inflationary dollars, destroying people's savings and the buying power of the Social Security checks you issue.

You are whistling past the graveyard. You must make immediate cuts now.

Think about how it will shake public confidence if it becomes widely understood that you must rely on borrowing to fund 40% of your budget. Maybe that's already happening . . . 

This letter to you is being forwarded around the Internet, so the public's awareness may be growing even as you read this. You had better start cutting spending now, before it's too late.

END LETTER

You can send your own letter to Congress using Downsize DC's Educate the Powerful System: https://secure.downsizedc.org/etp/cut-spending/

Don't forget to share this with people who are likely to agree. And spread the word about the 60-40 split between taxes and borrowing that's needed to fund the federal budget. 

Perry Willis
Co-founder
Downsize DC

HT: Reason — http://www.reason.com/blog/2013/01/14/without-borrowing-we-can-only-finance-60

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