1. United States
2. Texas
3. Letter

FACE AND SOLVE THE U.S. TREASURY INSOLVENCY The U.S. government is insolvent. That’s not hyperbole — it’s the conclusion drawn directly from the Treasury Department’s own consolidated financial statements for fiscal year 2025, released last week to near-total media silence. The numbers: $6.06 trillion in total assets against $47.78 trillion in total liabilities as of September 30, 2025. Two Bills That Could Change Everything Addressing this crisis — and preventing recurrence — requires two specific legislative actions. First, Congress should pass the bipartisan H.R. 3289 — Fiscal Commission Act, sponsored by Rep. Bill Huizenga (R-MI), Rep. Scott Peters (D-CA), and 41 co-sponsors. Such a commission would force a public reckoning with the facts, the trade-offs, and the hard choices that restoring fiscal health requires. Second, Congress should call an Article V Convention limited to proposing a fiscal responsibility amendment to the U.S. Constitution. H.Con.Res. 15, sponsored by Rep. Jodey Arrington (R-TX), would do exactly that. Modeled on Switzerland’s Debt Brake, such an amendment would mandate a balanced budget over the business cycle and prohibit federal spending from growing faster than the U.S. economy. These two bills represent the most credible path forward — and Congress must act.