FAQ Page
Frequently Asked Questions
What are the goals of the organization?
Deficit Free seeks to renew our national independence from our debt holders, especially foreign debt holders like China and oil exporting countries, by passing the Balanced Budget Amendment (BBA) by the date certain of July 4, 2013 – six months into the next presidential term, and by balancing the Federal budget by the date certain of July 4th, 2016 – the approximate time Social Security will move from surplus to permanent deficit. It’s the best two birthday presents we could give our country!In order to achieve these goals we need a grassroots movement as large as the problem we seek to solve. Therefore one of our first goals is to have by July 4th 2010, a minimum of 5 million Americans supporting the Balanced Budget Amendment, with a minimum of 5,000 supporters of the BBA in every Congressional district. Only by the active participation of “We the People” can we force Congress and the President to act, before it’s too late to avoid an economic collapse.
Why July 4th, 2013 and July 4th, 2016?
This gives us two Congressional elections, the next Presidential election and an additional six months for the voters to convince Congress to pass the BBA by July 4, 2013. More importantly, July 2016 is the estimated time when Social Security moves from surplus to deficit. If we have not balanced the Federal budget by this date, it becomes highly unlikely the budget will be balanced without a cataclysmic economic event. Setting a time-certain goal is needed in order to get Washington DC to act. As President Obama has said, “If you don’t set a deadline in this town, nothing happens.”
How big is the problem of the national debt and deficit?
In a word, huge! We’re broke.
The national debt has more than doubled in just the last eight years since the inauguration of President George W. Bush– now passing $12 trillion. The debt is now equal to nearly $40,000 for each of the 306 million people in America or $160,000 for every family of four! The national deficit has quadrupled just since the inauguration of President Barack Obama – now $1.4 trillion. That’s roughly $3,500 for each person and some $14,000 for each family of four in deficit spending just this year alone! Our long-term debt obligations are more than $52.7 trillion – an amazing $173,000 per person or nearly $700,000 for a family of four! The interest of the national debt in 2008 was more than $451 billion. We could send 123,000 kids to college or doubled the number of Border Patrol agents or immunize every 2-year old in America with just one day’s interest on the national debt!
Even more concerning is the fact that most of America’s publicly held debt is being lent by foreign interests, with China being the largest single holder. Foreign owed debt has doubled in just the past three years! Unless we get serious about balancing the federal budget, we will cede our nation’s independence and we will face economic tyranny at the hands of our foreign debt holders.
Does the voting public understand the threat and want action?
The voters are well ahead of the elected officials in understanding the threat and demanding action. Consider these polling numbers:
7/12/09 CBS News survey:
61% of voters say the government should reduce the deficit, verses
33% of voters say the government should stimulate the economy.
67% of voters say the federal budget deficit affects their own family's financial situation.
7/13/09 Diageo/Hotline survey:
71% of voters would choose a slower recovery with lower deficits, verses
23% of voters would choose a quicker recovery with higher deficit
How should the budget be balanced? Cutting spending or higher taxes?
The choice between cutting spending and raising taxes is a false choice. We need to start with a clean sheet of paper. If our nation were a corporation, we would be in Chapter 11 bankruptcy. In such a proceeding, we would make a list of every asset, review every obligation, and evaluate every employee.
After nearly 240 years, we need a top-to-bottom review of what we, the people want the Federal government to do and how that can be most efficiently and effectively accomplished. We, the people need to determine what we’re willing to pay for a Federal government and how best that money can be raised. A clean sheet of paper can create a new balanced Federal budget and a renewal of our Republic. Merely cutting some spending and raising some taxes will lock in place the dysfunctional aspects of a federal government grown too big and too inefficient.
Is this really possible?
Yes. First, we have been close to the passage of a constitutional balanced budget amendment before. The Balanced Budget Amendment passed the US House of Representatives in 1996 and came within one vote of passage in the US Senate in 1997.
Subsequently, Congress balanced the budget the next four years:
The United States is not immune to the laws of international economics. When, (not if), China refuses to loan the United States more money, it will spike interest rates, and the International Monetary Fund could demand budgetary restraints that will cause a cataclysmic impact on our economy. Other counties have had similar painful requirements forced upon them by the IMF. We will balance our budget in the future…either by our own doing or through the painful requirements of international markets and international organizations.
Who’s behind this movement?
The Deficit Free National Board of Advisors includes some of America’s most successful grassroots leaders and consultants. These men and women from throughout the nation come to this project out of love of country and fear for its future. Their work with Deficit Free is a great asset to the movement for a Balanced Budget Amendment.
As important as who these individuals are, is who they are not. They’re not Washington DC elected officials. They’re not Wall Street bankers. They are people who work day-in, day-out with voters, activists and Main Street businesses across America. They understand our nation’s economy and our nation’s freedoms are imperiled by out-of-control Federal deficits and the rising debt our nation owes foreign entities, many hostile to America’s future.
We are fortunate to have each serve this noble cause.
How can I participate?
Because we, the people are ultimately the only ones who can force the passage of the Balanced Budget Amendment we need you! You can make a difference by taking these 5 actions in just 5 minutes at our website: www.DeficitFree.com.
What are the goals of the organization?
Deficit Free seeks to renew our national independence from our debt holders, especially foreign debt holders like China and oil exporting countries, by passing the Balanced Budget Amendment (BBA) by the date certain of July 4, 2013 – six months into the next presidential term, and by balancing the Federal budget by the date certain of July 4th, 2016 – the approximate time Social Security will move from surplus to permanent deficit. It’s the best two birthday presents we could give our country!In order to achieve these goals we need a grassroots movement as large as the problem we seek to solve. Therefore one of our first goals is to have by July 4th 2010, a minimum of 5 million Americans supporting the Balanced Budget Amendment, with a minimum of 5,000 supporters of the BBA in every Congressional district. Only by the active participation of “We the People” can we force Congress and the President to act, before it’s too late to avoid an economic collapse.
Why July 4th, 2013 and July 4th, 2016?
This gives us two Congressional elections, the next Presidential election and an additional six months for the voters to convince Congress to pass the BBA by July 4, 2013. More importantly, July 2016 is the estimated time when Social Security moves from surplus to deficit. If we have not balanced the Federal budget by this date, it becomes highly unlikely the budget will be balanced without a cataclysmic economic event. Setting a time-certain goal is needed in order to get Washington DC to act. As President Obama has said, “If you don’t set a deadline in this town, nothing happens.”
How big is the problem of the national debt and deficit?
In a word, huge! We’re broke.
The national debt has more than doubled in just the last eight years since the inauguration of President George W. Bush– now passing $12 trillion. The debt is now equal to nearly $40,000 for each of the 306 million people in America or $160,000 for every family of four! The national deficit has quadrupled just since the inauguration of President Barack Obama – now $1.4 trillion. That’s roughly $3,500 for each person and some $14,000 for each family of four in deficit spending just this year alone! Our long-term debt obligations are more than $52.7 trillion – an amazing $173,000 per person or nearly $700,000 for a family of four! The interest of the national debt in 2008 was more than $451 billion. We could send 123,000 kids to college or doubled the number of Border Patrol agents or immunize every 2-year old in America with just one day’s interest on the national debt!
Even more concerning is the fact that most of America’s publicly held debt is being lent by foreign interests, with China being the largest single holder. Foreign owed debt has doubled in just the past three years! Unless we get serious about balancing the federal budget, we will cede our nation’s independence and we will face economic tyranny at the hands of our foreign debt holders.
Does the voting public understand the threat and want action?
The voters are well ahead of the elected officials in understanding the threat and demanding action. Consider these polling numbers:
7/12/09 CBS News survey:
61% of voters say the government should reduce the deficit, verses
33% of voters say the government should stimulate the economy.
67% of voters say the federal budget deficit affects their own family's financial situation.
7/13/09 Diageo/Hotline survey:
71% of voters would choose a slower recovery with lower deficits, verses
23% of voters would choose a quicker recovery with higher deficit
How should the budget be balanced? Cutting spending or higher taxes?
The choice between cutting spending and raising taxes is a false choice. We need to start with a clean sheet of paper. If our nation were a corporation, we would be in Chapter 11 bankruptcy. In such a proceeding, we would make a list of every asset, review every obligation, and evaluate every employee.
After nearly 240 years, we need a top-to-bottom review of what we, the people want the Federal government to do and how that can be most efficiently and effectively accomplished. We, the people need to determine what we’re willing to pay for a Federal government and how best that money can be raised. A clean sheet of paper can create a new balanced Federal budget and a renewal of our Republic. Merely cutting some spending and raising some taxes will lock in place the dysfunctional aspects of a federal government grown too big and too inefficient.
Is this really possible?
Yes. First, we have been close to the passage of a constitutional balanced budget amendment before. The Balanced Budget Amendment passed the US House of Representatives in 1996 and came within one vote of passage in the US Senate in 1997.
Subsequently, Congress balanced the budget the next four years:
When the efforts for a Balanced Budget Amendment waned in 2001, Congress began to spend wildly again:Federal Surplus FY 1998 – FY 2001:
FY 1998 +$69.3 Billion FY 1999 +$125.6 Billion
FY 2000 +$236.2 Billion FY 2001 +$128.2 Billion
Secondly, if we do not balance the Federal budget by our own accord, it will be forced upon us by our foreign debt holders. Current Congressional estimates predict annual deficits of more than $1 Trillion for wash of the next nine years. Simply put, there isn’t $9 Trillion to borrow.Federal Deficits FY 2002 – 2009:
FY 2002 -$157.8 Billion FY 2003 -$377.6 Billion
FY 2004 -$412.7 Billion FY 2005 -$318.3 Billion
FY 2006 -$248.2 Billion FY 2007 -$160.7 Billion
FY 2008 -$454.8 Billion FY 2009 -$143.0 Billion
The United States is not immune to the laws of international economics. When, (not if), China refuses to loan the United States more money, it will spike interest rates, and the International Monetary Fund could demand budgetary restraints that will cause a cataclysmic impact on our economy. Other counties have had similar painful requirements forced upon them by the IMF. We will balance our budget in the future…either by our own doing or through the painful requirements of international markets and international organizations.
Who’s behind this movement?
The Deficit Free National Board of Advisors includes some of America’s most successful grassroots leaders and consultants. These men and women from throughout the nation come to this project out of love of country and fear for its future. Their work with Deficit Free is a great asset to the movement for a Balanced Budget Amendment.
As important as who these individuals are, is who they are not. They’re not Washington DC elected officials. They’re not Wall Street bankers. They are people who work day-in, day-out with voters, activists and Main Street businesses across America. They understand our nation’s economy and our nation’s freedoms are imperiled by out-of-control Federal deficits and the rising debt our nation owes foreign entities, many hostile to America’s future.
We are fortunate to have each serve this noble cause.
How can I participate?
Because we, the people are ultimately the only ones who can force the passage of the Balanced Budget Amendment we need you! You can make a difference by taking these 5 actions in just 5 minutes at our website: www.DeficitFree.com.
1. Add your name to the Deficit Free petition as a supporter of the Balanced Budget Amendment. We need at least 5,000 voters in every Congressional district and at least 5 million voters nationwide to express the national will to balance the budget.
2. Send the opportunity to join this movement to your friends and neighbors via our website.
3. Send an e-mail or postcard to your State Legislators, Congressperson and Senators, asking for their support for a balanced budget by July 4, 2016.
4. Become a Deficit Free leader for your area.
5. Contribute to Deficit Free today. The only way to beat the special interests in Washington DC, is to have our movement be bigger and more powerful. Join today as a financial supporter of our the effort to pass the Balanced Budget Amendment.
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