He won’t say the 2017 federal deficit was $666 billion, or that the national debt is $20.6 trillion. He won’t say, as he did on April 10, 2015, that when the debt reaches $24 trillion, we will have hit “the magic number”, as he called it. The point of no return. This is the point at which, in his words, “We’re going to end up being another Greece.”
We’re going to be approaching that magic number in Trump’s first term, and if something drastic isn’t done, it will be on us soon thereafter. This is Trump’s economy, and if it goes the way of Greece it will be on him. He’s an extremely intelligent man. He understands all this better than we do, and he knows, at some point, he must address this problem.
Even if the Republicans keep control of the House, it will be with a diminished majority, one which is even less capable of taking on entitlements and the deficit. If the Democrats win the House, nothing will get done. We’ll have two years of siege warfare.
Either way, Trump is unlikely to get big legislative victories from the next Congress. How, then, can he avoid reaching that $24 trillion point of no return?
He asks the state legislators of the country (specifically those in Virginia, South Carolina, Kentucky, Minnesota, Montana and Idaho) to call an Article V Convention of States, for the purpose of proposing a balanced budget amendment to the Constitution.
He can write the amendment. The Convention will be controlled by Republican state legislators who will look to him for guidance.
To those who say the amendment will be ignored by Congress, Trump can say, as President, I will enforce it. To those who say there will be some sort of rogue or runaway Convention he can say, “Not on my watch.” As President he would have the political power to prevent any such thing.
So when he runs for reelection, it can be on peace, prosperity, and a permanent solution to the existential threat of government debt — the 28th Amendment.
And, in an adjustment to the balance of power in our Constitutional system, he will have demonstrated how a President can use Article V to control Congress.