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Document:Libertarian Party Radical Caucus Platform 2016: Difference between revisions
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Document:Libertarian Party Radical Caucus Platform 2016 (view source)
Revision as of 16:23, 11 April 2016
, 11 April 2016→6. Government Debt
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===6. Government Debt=== | ===6. Government Debt=== | ||
No person can rightly enter into a contract on behalf of another person without their consent. When governments accrue debt, they are in essence entering into debt on behalf of their constituents and the children of their constituents. We therefore call upon both houses of the US Congress to promptly pass, and call upon the state legislatures to ratify, a constitutional amendment repealing section 4 of the 14th amendment, prohibiting future indebtedness and deficit spending on the part of the federal government, and repudiating all federal government debt and debt service obligations accrued prior to the ratification of said amendment. | No person can rightly enter into a contract on behalf of another person without their consent. When governments accrue debt, they are in essence entering into debt on behalf of their constituents and the children of their constituents. We therefore call upon both houses of the US Congress to promptly pass, and call upon the state legislatures to ratify, a constitutional amendment repealing section 4 of the 14th amendment, prohibiting future indebtedness and deficit spending on the part of the federal government, and repudiating all federal government debt and debt service obligations accrued prior to the ratification of said amendment. | ||
Until the national debt is repudiated, the federal government should have a balanced budget. To be effective, a balanced budget should provide: | Until the national debt is repudiated, the federal government should have a balanced budget. To be effective, a balanced budget should provide: | ||
a. that the budget is balanced exclusively by cutting expenditures, and not by raising taxes; | a. that the budget is balanced exclusively by cutting expenditures, and not by raising taxes; | ||
b. that all spending is included in the budget; | b. that all spending is included in the budget; | ||
c. that neither the Legislative nor the Executive be permitted to override this requirement; and | c. that neither the Legislative nor the Executive be permitted to override this requirement; and | ||
d. that no exception be made for periods of national emergency. | d. that no exception be made for periods of national emergency. | ||
Governments facing fiscal crises should always default on their debt obligations in preference to raising taxes. At minimum, the level of government should be frozen. Additionally, the Federal Reserve should be forbidden to acquire any additional government securities, thereby helping to eliminate the inflationary aspect of the deficit | |||
Governments facing fiscal crises should always default on their debt obligations in preference to raising taxes. At minimum, the level of government should be frozen. Additionally, the Federal Reserve should be forbidden to acquire any additional government securities, thereby helping to eliminate the inflationary aspect of the deficit | |||
===7. Government Secrecy=== | ===7. Government Secrecy=== | ||