National Debt Elimination Act sign now

The people have spoken but I am not sure the politicians are listening. The addition of five trillion dollars to the national debt under Speaker Pelosis leadership is what has outraged the common sense voters. We know, just as they do, that the debt is a significant threat to our national security. However, all the politicians are talking about is deficit reduction. Instead they should be talking about debt elimination.

Therefore I encourage you to sign this petition to make what I call the common sense National Debt Elimination Act the first priority of the upcoming Congress. Our children and grandchildren deserve no less from us.


National Debt Elimination Act

Given the fact the national debt poses a significant threat to the national security of our nation the following actions are hereby directed:

1. The pay rates will be frozen at the January 2008 levels for the following individuals until the National Debt is eliminated:

a. All members of Congress.
b. The President and Vice President.
c. Each Cabinet Secretary.
d. All Federal employees at the level of GS13 (or equivalent) and above.
e. Military flag officers (O-7 and above).

2. For fiscal year (FY) 2012 and beyond deficit spending of any amount will result in a twenty percent tax penalty for members of Congress and the President to be applied at their next tax filing.

3. Budgets for FY 2013 and beyond must result in a $500 billion surplus. Failure to meet this requirement will result in a ten percent tax penalty applied the same as paragraph 2.

4. All money returned to the federal government as repayment under the TARP program or 2009 stimulus program and future budget surpluses must be applied to pay down the National Debt.

5. Social Security and Medicare taxes collected cannot be diverted or used elsewhere in the budget process.

6. Prior to considering a tax increase on working and productive citizens Congress will eliminate all foreign aid, all refundable tax credits, reduce the federal workforce by twenty percent and increase taxes on individuals making $500,000 or more per year.

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Rafael KlineBy:
Politics and GovernmentIn:
Petition target:
U.S. Congress

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