In this second part of my Financial Responsibility Amendments series (watch Part 1 here), I discuss the pressing need for financial responsibility amendments in the U.S. Constitution. I emphasize that our Constitution has been amended 27 times before, and can certainly be amended again. I firmly believe our nation urgently needs to establish clear guardrails for its financial management. I present three proposed amendments concerning our nation’s finances.
The first, which I’ve named the Financial Heritage Amendment, seeks to limit the term of government debt and prevent borrowing money just to pay off existing debt. It mandates that all public debt be settled within a specified timeframe.
The second, the Public Employees Fairness Amendment, tackles the power disparity between public employees and taxpayers. This amendment suggests a transition from defined benefit plans to defined contribution plans for public employees, ensuring a fair distribution of employment benefits.
The third, the Regulatory Responsibility Amendment, addresses the overwhelming number of federal rules and regulations introduced without explicit congressional consent. This amendment would necessitate Congress’s approval for new rules and regulations and set a timeframe for reviewing and approving existing ones. I stress the significance of enforcing these amendments and ensuring that citizens can seek their enforcement. I argue that our current system often lets agencies introduce regulations without adequate oversight.
Throughout my discussions, I underscore the urgency of addressing our nation’s financial management and urge listeners to support these crucial reforms. I also delve into the constraints and prerequisites for executive orders issued by the President. I explain that executive orders have a lifespan of two years unless Congress approves them, and the President can’t reissue the same order without such approval. However, internal regulations that don’t impact the public are exempted.
I also highlight the essential right of citizens to enforce the Constitution through legal channels. Our discussions often pivot to the financial freedom amendments, which I believe can pave the way for financial freedom and liberty for our future generations.
I recognize the complexity of these amendments and invite listeners to check out a comprehensive written version of the Financial Responsibility Amendments. I’m also open to feedback and suggestions from responsible individuals to fine-tune the amendment wording. I genuinely believe these financial responsibility amendments transcend party lines and can resonate with both liberals and conservatives.
Acknowledging my age, I pass the baton to the younger generation, trusting them to continue this vital mission. Our discussions often touch upon the current political climate, suggesting that Republicans might be more receptive to these financial responsibility amendments. However, I stress that every American should be alarmed by our nation’s spending habits and recognize the dire need for financial checks and balances. I remain hopeful that, united, we can successfully implement these amendments.