National Debt

The amendment would require the White House to report to congress quarterly on foreign debt holdings and the risks that are posed to the U.S. by being indebted to foreign creditors.

America’s national debt recently topped $13 trillion, which not only puts the economy in peril, but also the nation’s national security, according to Secretary of State Hillary Clinton.

According to CNNMoney.com, due to budgetary tricks and gimmicks, America’s fiscal situation may be much worse than the general public even realizes. Secretary of State Hillary Clinton, has said that the nation’s debt is not only an economic issue, but a national security issue as well.

Pay-go rules, bipartisan budget commissions and task forces on the national debt will all be futile in restoring fiscal stability to the U.S. government unless lawmakers from both parties can come together to implement a combination of spending cuts and tax increases.