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Proposal Details

Proposal ID	1003
Proposal	2020 Platform Amendment: Chapter IV, Section M National Debt
Presenter	Platform Committee Sponsor: Banking and Monetary Reform Committee
Floor Manager	Tony Ndege
Phase	Closed
Discussion	02/10/2020 - 03/08/2020
Voting	03/09/2020 - 03/15/2020
Result	Adopted
Presens Quorum	34 0.6666
Consens Quorum	50 0.6666 of Yes and No Votes

Background

The introductory paragraphs are revised to better explain why we have a national debt and the monetary system’s role in that. Existing paragraphs 2 & 3 seem to be misplaced as they have nothing to do with the debt and seem to belong elsewhere. We propose amended language which includes the effect that monetary reform will have on paying off the national debt if our platform on monetary reform is implemented.

Proposal

Amend Platform Chapter IV, Ecological Economics, Letter M. National Debt. to read:
OUR POSITION
Greens will reduce our national debt.
Our nation is in debt because our privatized Federal Reserve monetary system only creates and issues money as debt through loans. The government must constantly borrow more money due to the shortfall in tax revenue, thus steadily increasing the national debt.

Our national debt has grown by trillions of dollars to finance tax cuts for America’s wealthiest citizens, war, corporate welfare and bailouts of Wall Street and the automotive industry. The burden of the increasing annual interest payments on the debt falls disproportionately on working people and the small business community. It is not sustainable.
GREEN SOLUTIONS
1. Reduce our national debt by increasing taxes on large corporations and polluters, eliminating loopholes for the super-rich and decreasing expenditures in some areas, especially for war, armaments and corporate welfare.

2. Pay off the national debt as it comes due when ‘Greening the Dollar’ is implemented.

Resources

Approval of this proposal will amend the 2018 GPUS Platform.

Contacts:
Platform Committee: platcom@gp.org; Co-chairs Bruce Hinkforth, Tim Willard
Banking and Reform Committee: BMRC@gp.org; Co-chairs: Rita Jacobs, Howard Switzer

References

Current language of Part IV, M. National Debt:
M: National Debt
Fairness for our children and grandchildren OUR POSITION
Greens will reduce our national debt. Presidents George W. Bush and Barack Obama have irresponsibly expanded our national debt by trillions of dollars to finance tax cuts for America’s wealthiest citizens, war, corporate welfare and bailouts of Wall Street and the automotive industry. This debt and the interest that must be paid on it is not sustainable. Working people and the small business community are bearing a disproportionate amount of the federal debt burden. Yet the federal debt is, to a large degree, the end product of tax cuts for the wealthy and big business, and the military-defense industry buildup. For many years the federal government borrowed trillions of dollars. Money that should have been going into a better "safety net" for the poor, homes for the homeless, environmental and public lands conservation, sustainable jobs, research and development, roads and bridges, schools and the technologies of tomorrow, has been lost to servicing the national debt. We cannot ignore the consequences of our nation's past deficits and the related costs of debt service. GREEN SOLUTIONS
1. Reduce our national debt by increasing taxes on large corporations, the super-rich and pollution; and decreasing expenditures in some areas, especially for war, armaments and corporate welfare.
2. Oppose privatization of Social Security.
3. Increase funding for green jobs, Social Security, public housing, higher education, public transportation, environmental protection, renewable energy and energy conservation.

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