Compact for America

11/01/2024

https://www.msn.com/en-us/money/markets/why-france-s-fiscal-freakout-matters-to-the-world/ar-AA1sQyKI?ocid=socialshare&cvid=b85e60cf786149efbe98ea0e5e2c8408&ei=14

Will we be like France?

The fiscal chaos that hawks warn will eventually play out in America is already underway in France. Why it matters: The revolt over fiscal deficits has come for France. A financial market freakout is pushing the government to take steps to rein in spending, a task complicated by political factions t...

06/18/2023

The sn*******ng interest cost on our national debt portends a global economic crisis. Ever-increasing interest costs eventually devalues the asset against which the debt is taken. We can't let that happen. Learn more about the Compact for America!
http://mvnt.us/m1417830

06/16/2023

This is the best our Congress can do for us, and the deal just cut suspends the debt ceiling until after the 2024 election. Americans need action at the state level. Contact your legislator and tell them about joining the Compact!
http://mvnt.us/m1417827

06/15/2023

This is a scholarly piece, the summary says it all: the debt to GDP ratio will continue to increase until the White House and Congress agree to sustainable deficit reduction policies. One solution is with the states, and through the Compact for America.

Despite the high-stakes debt ceiling negotiations, U.S. debt relative to GDP is projected to keep growing over the next decade. What factors account for this projection and why does it matter?

06/14/2023

A balanced budget picture is a simple graph: the revenue and spending lines meet in the middle. In FY 23, the lines are moving apart.

Uncle Sam’s income has plummeted this year, sending the federal deficit spiraling deeper into the red than analysts had predicted and leaving officials grasping for answers.

06/14/2023

Both sides of the aisle are concerned about the cost of our borrowing. If you go to 43:30 in this video, you can hear the Ranking Member of the House Budget Committee, Brendan Boyle (D-PA), explain how close we came to another credit rating downgrade.

06/10/2023

Fitch Ratings will make a final decision regarding a US credit rating downgrade in September. In its June statement Fitch noted "failure to tackle fiscal challenges from growing mandatory spending has led to rising fiscal deficits and debt burden."

A credit rating downgrade would make it more expensive for the U.S. to borrow debt.

06/08/2023

"What you've got in place is essentially Democratic spending policy and Republican tax policy, and there is nothing in the works that suggests any change to either of those."

Republicans and Democrats are touting a hastily-written debt ceiling deal that staves off a devastating U.S. default, but does little to slow a massive buildup of total federal debt now on pace to exceed $50 trillion in a decade.

06/06/2023

Here's a very simple rundown of what is in the debt ceiling bill. Of deep concern is that the ceiling increase has no dollar figure, just a two-year suspension, meaning Congress has a blank check to run deficits.
http://mvnt.us/m1413603

Congress has passed the debt ceiling package, just days before the Treasury Department would have run out of sufficient funds to pay all of the nation’s obligations on time and in full.

06/03/2023

GAO calls on Congress to "Incorporate well-designed fiscal rules and targets to help manage debt, for example by controlling factors such as spending and revenue to meet a debt-to-GDP target."

The federal government faces an unsustainable fiscal future. If policies don't change, debt will continue to grow faster than the economy. Our review...

06/02/2023

Congress acts as though constant deficit spending has no consequences. As the risk of default grows, so does the fear factor among Treasury investors, who will demand higher interest rates from the Treasury in return for buying more government debt.

Bonds market data, news, and the latest trading info on US treasuries and government bond markets from around the world.

06/01/2023

40 states require their legislators to pass a balanced budget. What if Congress had to get approval from a majority of state legislatures every time it wanted to raise the debt ceiling? That's what the Compact for a Balanced Budget is working for.

Compact for America is helping the States advance and ratify a federal Balanced Budget Amendment by joining the Compact for a Balanced Budget