America’s Debt Is Growing Faster Than Its Economy. Is This Sustainable?—W. Bruce Lee

American Thought Leaders

The Epoch Times

Government, News, Politics

4.9 • 1.1K Ratings

🗓️ 21 August 2024

⏱️ 23 minutes

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Summary

W. Bruce Lee is the executive director of the Phoenix Correspondence Commission, the first nationwide convention of states since 1861. It’s a little known government body owned by all 50 states organized to provide another check on the federal government.

“After 40-some odd years of no progress in Congress, the states are being looked at as the solution now. And the states do need to buck up,” said Lee. “If Congress is unwilling to control itself, then there needs to be some external enforcer.”

He argues the best way to rein in federal spending and reduce the $35 trillion national debt, is through a balanced budget amendment to the Constitution.

“At $35 trillion, we’re spending more on interest payments than we do on our national defense,” he said. “If you do not have economic stability, you do not have anything. The whole house of cards comes tumbling down.”

Views expressed in this video are opinions of the host and the guest, and do not necessarily reflect the views of The Epoch Times.

Transcript

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0:00.0	After 40 some odd years of no progress in Congress, the states are being looked at as, hey you are the solution now and the states do need to buck up.
0:10.0	Bruce Lee is the executive director of the Phoenix Correspondence Commission, the first nationwide
0:14.9	Convention of States since 1861.
0:17.8	It's a little-known government body owned by all 50 states organized to provide another check on the federal government.
0:24.6	He argues that the best way to rein in federal spending and reduce the 35 trillion dollar
0:30.4	national debt is through a balanced budget amendment to the Constitution.
0:35.0	At 35 trillion, we're spending more on interest payments than we do on our national defense.
0:42.2	If you do not have economic stability, you do not have anything.
0:45.9	The whole house of cards comes tumbling down.
0:48.5	This is American Thought Leaders, and I'm Yanya Kelleck. Bruce Lee, such a pleasure to have you on American thought leaders.
0:57.0	Yon, I'm delighted to be here and I really appreciate the work that you and the Epic Times are doing and I've been just it's a blessing to be here.
1:05.0	Well, thank you for that and I'm actually going to read something that I read off of the
1:11.6	letterhead of your organization which I thought was fascinating.
1:15.9	The states are separate and independent sovereigns.
1:20.5	Sometimes they have to act like it.
1:22.4	That's from Chief Justice Roberts.
1:24.0	Yes, sir. And I mean, we don't often remember that these days, do we?
1:30.0	Well, we tend to forget about it a little bit, and citizens might forget about it,
1:33.8	and the state legislatures tend to forget about it,
1:38.1	because we have over a period of many years ebbed into this thing of that gee the federal government is the big
1:43.9	boss and almost to the point where the states are the administrative arm of the
1:49.8	feds isn't that what is supposed to be like that? But that's not correct. The states actually
	...

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