CONGRESS: What is The PLAN to PAY The INTEREST on The NATIONAL DEBT?

Information, Petition and Names of Political Candidates

If you would like to help Petition to ask CONGRESS: What is The PLAN to PAY The INTEREST on The NATIONAL DEBT? email us at: contact@nationalreferendum.org

If the U.S. economy does recover and/or inflation does increase this Country would NOT be able to pay the INTEREST on the National Debt without causing substantial damage to the economy. In 2012 the Interest on the National Debt was $359 Billion. (Source: http://www.treasurydirect.gov/govt/reports/ir/ir _expense.htm

If the interest rate rises to 6% the INTEREST on the National Debt would be $978 Billion per year. (Source: http://www. intellectualtakeout.org/library/articles-commentary-blog/national- debt-faq

In 2000 the interest rate was 6.50%. In 2006 the interest rate was 5.25%.

Over $600 Billion in ADDITIONAL Federal revenue will be needed if Interest Rates rise to 6%. The three basic ways to increase Federal revenue would ALL cause substantial damage to the economy.

The three basic ways are:

1. Cut Federal Spending - In every Country that Federal Spending has been cut the economy is significantly worse and Federal revenue has DECREASED. Examples are: Cyprus, 17.10% Unemployment; Greece, 27.3% Unemployment; Portugal, 15.60% Unemployment; Spain, 25.98% Unemployment.

2. Raise Taxes - The amount of money that needs to be raised would mean that taxes would have to be significantly raised on EVERYBODY. This would have a devastating effect on the economy.

3. The Federal Government should borrow more money - This would cause interest rates to rise causing further damage to the economy.

Therefore the question is what is the future state of the American economy? Paul Krugman is an Op-ed page writer for the New York Times and winner of the Nobel Prize in Economics. In his article, "A Permanent Slump?" he states: "But what if the world we've been living in for the past five years is the new normal? What if depression-like conditions are on track to persist, not for another year or two, but for decades?" (Source: New York Times, November 18, 2013; http://www.nytimes.com/2013/11/18/opinion/krugman-a-permanent-slump.html

Is this depression going to be continuous because the Federal Government simply CANNOT pay the INTEREST on the National Debt, if the economy does recover, without causing substantial damage to the economy?

Is the Federal Government moving from crisis to crisis to undermine economic confidence so that a recovery does not occur?

We have contacted United States Senators and Members of Congress with the question: What is the Congressional Plan, that would be enacted to pay the Additional $600 Billion per year in INTEREST on the National Debt, if the economy does recover and/or inflation does increase resulting in interest rates rising to 6%? We have not received an answer to this question from any contacts that we have made.

IMPORTANT NOTE: Whether you decide to sign the Petition for this issue or not it is extremely important to know this Congressional Plan. Therefore if you contact Federal Representatives kindly inform us of what information you do or do NOT receive. We thank you in advance for doing this. Email: contact@nationalreferendum.org

Listed below are the Political Candidates that agree to the following statement:

"We are requesting the Congressional Plan, that would be enacted to pay the Additional $600 Billion per year in INTEREST on the National Debt, if the economy does recover and/or inflation does increase resulting in interest rates rising to 6%? In 2012 the Interest on the National Debt was $359 Billion. If Interest rates rise to 6% the Interest on the National Debt will be $978 Billion per year."

"There should be a National Debate on this Congressional Plan. This Debate should lead to a National Vote (a National Referendum) on this Congressional Plan"

Blanca Guerra
Libertarian Party Congressional Candidate
3rd Congressional District, Arizona
http://www.guerraforcongress.com/
Email: blancaarsenia@yahoo.com

Peter Romanowsky
Republican Congressional Candidate
6th Congressional District, California
www.angelfire.com/hi2/agapecyber
Email: peteromanowsky@gmail.com

Philip A. Bralich, Ph.D.
Democratic Congressional Candidate
17th Congressional District, California
http://uncleverne.com
Email: pbralich@earthlink.net

Jason Kendall
Democratic Congressional Candidate
7th Congressional District, Florida
www.JHK2012.com
Email: Kendall2012@live.com

Erin Kent Magee
Republican Congressional Candidate
17th Congressional District, Florida
http://magee4congress.blogspot.com
Email: erin.kent.magee@gmail.com

Lee R. Ferrell
Republican Congressional Candidate
2nd Congressional District, Georgia
www.leerferrell.com
Email: Lee.Ferrell@mchsi.com

Raymond Wardingley
Republican Congressional Candidate
1st Congressional District, Illinois
www.RayWardingley.com
Email: RayWardingley99@msn.com

Teri Davis Newman
Republican Congressional Candidate
12th Congressional District, Illinois
www.voteforteri2010.com
Email: TeriDavisNewman@aol.com

Mark Levya
Republican Congressional Candidate
1st Congressional District, Indiana
www.markleyva.com
Email: markleyva1959@sbcglobal.net

Ron Williams
Libertarian Party Congressional Candidate
4th Congressional District, Mississippi
http://www.ronwilliamsuscongress.com
Email: hsi.ronwilliams@yahoo.com

John Wayne Tucker
Republican Congressional Candidate
3rd Congressional District, Missouri
www.JohnWayneTucker.com
Email: Electjwt@JohnWayneTucker.com

Dennis Parker
Republican Congressional Candidate
1st Congressional District, Nebraska
www.parkerforcongress.info
Email: dlparker25@yahoo.com

Carlo Poliak
Democratic Congressional Candidate
3rd Congressional District, Nevada
Email: Texsano@cox.net

John Wallace
Republican Congressional Candidate
20th Congressional District, New York
www.newyorkoathkeeper.com
Email: john@newyorkoathkeeper.com

Erick Wyatt
United States Senate Candidate
Republican, Oklahoma.
www.erickwyatt.com
Email: erick@erickwyatt.com

Pavel Goberman
United States Senate Candidate
Democrat, Oregon
www.getenergized.com
Email: Allbefit@aol.com

Gary Gene Davis
United States Senate Candidate
Democrat, Tennessee
http://home.comcast.net/~bbias84612/site
Email: jaygarydavis@juno.com

John Wieder
Libertarian Party Congressional Candidate
14th Congressional District, Texas
www.johnwieder.com
Email: johnwieder@aol.com

James Stanczak
Libertarian Party Congressional Candidate
29th Congressional District, Texas
http://www.jameyusa.com
Email: jamesstanczak@hotmail.com

Ross Lynn Leone
Libertarian Party Congressional Candidate
35th Congressional District, Texas
http://www.rosslynnleone.com
Email: rlynnleone@yahoo.com

 

 


Information and Petition

If you would like to help Petition to ask CONGRESS: What is The PLAN to PAY The INTEREST on The NATIONAL DEBT? email us at: contact@nationalreferendum.org

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By submitting this form, I am signing a petition stating that: "We are requesting the Congressional Plan, that would be enacted to pay the Additional $600 Billion per year in INTEREST on the National Debt, if the economy does recover and/or inflation does increase resulting in interest rates rising to 6%? In 2012 the Interest on the National Debt was $359 Billion. If Interest rates rise to 6% the Interest on the National Debt will be $978 Billion per year."

"There should be a National Debate on this Congressional Plan. This Debate should lead to a National Vote (a National Referendum) on this Congressional Plan"