- United States
- Minn.
- Letter
Act now on America's $136 trillion fiscal crisis
To: Rep. McCollum, Sen. Klobuchar, Sen. Smith
From: A verified voter in Saint Paul, MN
March 23
I am writing as your constituent from Saint Paul, Minnesota, to urge you to act on what I believe is the most urgent and underreported crisis facing our nation: the long-term fiscal insolvency of the United States federal government. According to the Treasury Department's own consolidated financial statements for fiscal year 2025, released last week, the federal government holds $6.06 trillion in total assets against $47.78 trillion in total liabilities — a negative net position of over $41 trillion. When 75-year unfunded social insurance obligations are included, total federal obligations exceed $136 trillion, or roughly five times our annual GDP. The Government Accountability Office has now issued a disclaimer of opinion on federal financial statements for 29 consecutive years. This is not a partisan talking point — it is an accounting reality drawn directly from official government documents, and it received virtually no media attention. I am writing to ask for your active support of two specific bills that represent a credible, bipartisan path forward: H.R. 3289 — Fiscal Commission Act Sponsored by Rep. Bill Huizenga (R-MI) and Rep. Scott Peters (D-CA), with 41 bipartisan co-sponsors. This bill would create a formal commission to publicly examine the fiscal facts, trade-offs, and difficult choices required to restore long-term fiscal health. We cannot solve a problem that Congress has refused to fully reckon with in public. I urge you to co-sponsor and advance this legislation. H.Con.Res. 15 — Article V Convention for a Fiscal Responsibility Amendment Sponsored by Rep. Jodey Arrington (R-TX), this resolution would call an Article V Convention limited to proposing a constitutional fiscal responsibility amendment — modeled on Switzerland's Debt Brake — that would mandate a balanced budget over the business cycle and prohibit federal spending from growing faster than the economy. Without a structural constitutional constraint, no commission report or congressional pledge will produce lasting change. I am not writing to ask you to cut any specific program or raise any specific tax. I am asking you to take the first steps: acknowledge the true scale of this problem in a transparent public forum, and support a constitutional mechanism that would require fiscal discipline going forward. These are actions that transcend party lines, because the fiscal trajectory we are on threatens every American regardless of political affiliation. Congress has deferred this reckoning for decades. I respectfully urge you not to defer it further. Please support H.R. 3289 and H.Con.Res. 15. Thank you for your service and your attention to this matter. I welcome any response from your office.
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