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	<title>Comments on: America is Now a Banana Republic. Government Spending is Out of Control. The National Debt is Exploding</title>
	<atom:link href="http://rutledgecapital.com/2009/06/25/america-is-now-a-banana-republic-government-spending-is-out-of-control-the-national-debt-is-exploding/feed/" rel="self" type="application/rss+xml" />
	<link>http://rutledgecapital.com/2009/06/25/america-is-now-a-banana-republic-government-spending-is-out-of-control-the-national-debt-is-exploding/</link>
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		<title>By: IAI Research</title>
		<link>http://rutledgecapital.com/2009/06/25/america-is-now-a-banana-republic-government-spending-is-out-of-control-the-national-debt-is-exploding/comment-page-1/#comment-557</link>
		<dc:creator>IAI Research</dc:creator>
		<pubDate>Tue, 13 Apr 2010 18:51:54 +0000</pubDate>
		<guid isPermaLink="false">http://rutledgecapital.com/?p=2644#comment-557</guid>
		<description>We the People Still Have the Power
 
Americans can be pandered to with debates on C-SPAN or by watchdogs in the press. Political strategists can assure us the next election will secure our future.  Meanwhile, the political class has learned to manipulate the average voter and bureaucrats have deeply imbedded control over our government.  
 
Yet our founders envisioned even this occurrence and created a mechanism for the people and the States to reassert control over an overpowering federal government.
 
Article V of the Constitution states: “Congress … on the application of the Legislatures of two thirds of the several States, shall call a Convention for proposing Amendments, …” But what should our State legislatures seek to amend?
 
The only way to stop the wasteful spending, and its eventual debilitating taxation, is to starve the government machine.  To do this, we need a Constitutional Amendment to insure that:
 
1.  Except in time of declared war against a foreign enemy, the federal government shall balance its budget.  This budget shall include all cash expenditures and cash revenues for the federal government and all of its dependent agencies.  Further, the total cash expenditures of the federal government shall not exceed eighteen percent (18%) of the prior year’s gross domestic product.
 
2.  Included in the budget’s cash expenditures will be an annual payment to retire the national debt.  This payment will be not less than 3% of the principal amount of the prior year’s national debt.
 
3.  Any increase in taxes, fees, or other sources of revenue shall require a 2/3 vote of each chamber of Congress.  All tax rates and fees as of January 1, 2010 will be re-established and be considered the baseline for any future changes.
 
4.  No unfunded mandates or requirements shall be placed on state or local governments.  The costs of all federal laws must be paid by the federal government and be included in the annual balanced budget.
 
Should the people decide they wish to spend more on certain items, they can petition their State or Local governments.  Clearly, we cannot trust politicians.  Unless specifically controlled, they will continue to use our money to buy votes for their own re-election. Encourage your state legislature to reassert its authority: call for a constitutional convention and pass these controls.
 
Please share with others.
 
www.IAIresearch.wordpress.com</description>
		<content:encoded><![CDATA[<p>We the People Still Have the Power</p>
<p>Americans can be pandered to with debates on C-SPAN or by watchdogs in the press. Political strategists can assure us the next election will secure our future.  Meanwhile, the political class has learned to manipulate the average voter and bureaucrats have deeply imbedded control over our government.  </p>
<p>Yet our founders envisioned even this occurrence and created a mechanism for the people and the States to reassert control over an overpowering federal government.</p>
<p>Article V of the Constitution states: “Congress … on the application of the Legislatures of two thirds of the several States, shall call a Convention for proposing Amendments, …” But what should our State legislatures seek to amend?</p>
<p>The only way to stop the wasteful spending, and its eventual debilitating taxation, is to starve the government machine.  To do this, we need a Constitutional Amendment to insure that:</p>
<p>1.  Except in time of declared war against a foreign enemy, the federal government shall balance its budget.  This budget shall include all cash expenditures and cash revenues for the federal government and all of its dependent agencies.  Further, the total cash expenditures of the federal government shall not exceed eighteen percent (18%) of the prior year’s gross domestic product.</p>
<p>2.  Included in the budget’s cash expenditures will be an annual payment to retire the national debt.  This payment will be not less than 3% of the principal amount of the prior year’s national debt.</p>
<p>3.  Any increase in taxes, fees, or other sources of revenue shall require a 2/3 vote of each chamber of Congress.  All tax rates and fees as of January 1, 2010 will be re-established and be considered the baseline for any future changes.</p>
<p>4.  No unfunded mandates or requirements shall be placed on state or local governments.  The costs of all federal laws must be paid by the federal government and be included in the annual balanced budget.</p>
<p>Should the people decide they wish to spend more on certain items, they can petition their State or Local governments.  Clearly, we cannot trust politicians.  Unless specifically controlled, they will continue to use our money to buy votes for their own re-election. Encourage your state legislature to reassert its authority: call for a constitutional convention and pass these controls.</p>
<p>Please share with others.</p>
<p><a href="http://www.IAIresearch.wordpress.com" rel="nofollow">http://www.IAIresearch.wordpress.com</a></p>
]]></content:encoded>
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		<title>By: Weekend Linky Dinks UpsideTrader</title>
		<link>http://rutledgecapital.com/2009/06/25/america-is-now-a-banana-republic-government-spending-is-out-of-control-the-national-debt-is-exploding/comment-page-1/#comment-514</link>
		<dc:creator>Weekend Linky Dinks UpsideTrader</dc:creator>
		<pubDate>Sat, 27 Jun 2009 15:30:58 +0000</pubDate>
		<guid isPermaLink="false">http://rutledgecapital.com/?p=2644#comment-514</guid>
		<description>[...] John Rutledge on our banana republic. [...]</description>
		<content:encoded><![CDATA[<p>[...] John Rutledge on our banana republic. [...]</p>
]]></content:encoded>
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	<item>
		<title>By: Market Talk &#187; Blog Archive &#187; And Who&#8217;s Even Got A Pitchfork Anymore?</title>
		<link>http://rutledgecapital.com/2009/06/25/america-is-now-a-banana-republic-government-spending-is-out-of-control-the-national-debt-is-exploding/comment-page-1/#comment-513</link>
		<dc:creator>Market Talk &#187; Blog Archive &#187; And Who&#8217;s Even Got A Pitchfork Anymore?</dc:creator>
		<pubDate>Fri, 26 Jun 2009 18:15:58 +0000</pubDate>
		<guid isPermaLink="false">http://rutledgecapital.com/?p=2644#comment-513</guid>
		<description>[...] to the new Banana Republic of America,&#8221; John Rutledge of Rutledge Capital says after parsing the latest CBO long-term budget [...]</description>
		<content:encoded><![CDATA[<p>[...] to the new Banana Republic of America,&#8221; John Rutledge of Rutledge Capital says after parsing the latest CBO long-term budget [...]</p>
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