Pray for a National Savings Account to be established to counter America’s rising Debt
Desperate economic times calls wise stewardship in these trying times
My fellow Americans, we have seen the rising price of gasoline cause our Nation’s economic growth come to a staggering halt. Yes, the rising cost of gasoline is the main reason why our economy, though it has improved some, is still teetering on the fence.
If we are going to fully turn corner and start our economy moving in the right direction again, there are a few things that we must do.
Debt is a burden and that is why we must take America’s debt crisis very serious. The bible teaches us that the borrower is servant to the lender. “The rich ruleth over the poor, and the borrower is servant to the lender” Proverbs 22:7. It it time to wise up because America’s fiscal house in not in order. The easiest time to stop a fire is before it turns into an inferno. Now is the time for all Americans who love our great Nation to start demanding that we as a Country to more to reverse our rising debt.
We have many voices in politics but we lack visionary leadership.
Most of the ideas we have today are ideas that fail to address the major cause of
America’s rising National debt. We must get serious about our Nation’s debt now
and in order to get serious about debt we must become wiser stewards of the abundance of resources that our great Nation has to offer. We have the economic power but we lack the will and the drive to use what we have to create a more perfect union.
Let’s begin with the idea of forming a “National Savings Account” to set a side funds solely for the purpose of paying down America’s out of control debt. Every home, business, organization and yes even our Nation, must have a savings account that is used solely and strictly for paying our most critical expenses when the need arises.
How would we fund our National Savings Account? It would be funded several ways, both by volunteer contributions and by a national tax. I hate adding taxes but this tax would be solely on consumer goods. Americans could have a 1 cent tax on every consumer item and there would need to be a cap of 1 cent on standard consumer items but at tax of 5 cents on every gallon of gasoline, tobacco product, and alcohol purchase. At least 1% of all State Lottery proceeds should go to the National Savings Account. Each employee or business could have the option of contributing voluntarily out of each of their pay checks to the National Savings Account. All volunteer contributions would be tax deductible.
With any savings account there would need to be a monthly goal for our National Saving Account. A monthly goal of 50 to 100 Billion in revenue for our National Savings Account is very doable for a Nation as prosperous as the USA. Each year that would mean about 600 Billion to 1.2 Trillion dollars in revenue that would go solely to paying down America’s rising National Debt.
From our National Savings Account “no” government salaries or salaries of any kind will every be paid. No pork barrel projects or special interest contributions of any kind would ever be allowed. 100% of the funds collected for the N.S. Account would go strictly to paying down America’s debt. More people would give to a N.S Account if they knew that 100% of the funds would be solely for paying down the Nations debt. Once the debt is paid in its entirety and there is surplus of funds, a modest amount of no more than 20% of the surplus could be put into projects that would help improve the quality of the lives of all Americans. Projects like building a national high-speed rail system, infrastructure improvements, education, Veteran services, and other project that directly affect the lives of each American for the better.
We love America and in desperate economic times we must become wiser stewards of that which God has blessed us with. It is time for us to do more with what we already have and stop the fiscal foolishness that put us in this dire situation in the first place.
Courtesy of the US New and Media Group