In the July 2018 edition of The Ripon Society’s magazine, The Ripon Forum, Coalition president Jonathan Bydlak wrote the need to get creative to solve the national debt crisis. He writes,
Lawmakers kick the can down the road because they can do so without consequence. Unlike a tax increase, an increase in the national debt doesn’t immediately affect anyone’s paycheck. And who among us instinctively attributes higher interest rates or lower income growth to marginal rates of spending and growing government?
The issues are complicated.
What’s more, current approaches simply aren’t working. There are the constitutional arguments: just because government can do something doesn’t mean it should. There are the fiscal sustainability arguments: current programs aren’t affordable and we don’t have the money to pay for future promises. And there are the ideological arguments: the private sector is more efficient and shifting resources toward government makes us all worse off.
He goes on to talk about SpendingTracker.org, explaining,
Spending Tracker represents a key way to record what every Member of Congress is doing – and to hold them accountable. Parents of today will no longer have to wonder which politicians are burdening their children and grandchildren with inescapable debt – they will know as it happens.
Consider, as an analogy, the current world of financial prognostication, in which commentators offer various predictions as to what will happen to home prices or which way the stock market will move. When hearing these predictions on television, it’s impossible to judge the likelihood of them coming true without knowing the predictor’s past record of success.
Jonathan concludes the piece by saying,
The accountability of new technology combined with time-tested reforms offers hope that the United States will not keep sliding steadily into the realm of fiscal crisis. There’s still time left to right the ship – and if Congress cannot get its act together, creative solutions from an engaged public are our best bet.
You can read the full piece online at The Ripon Society.