Hold Our Congressmen Accountable

There is plenty we can do. For starters, you can vote for new members of congress. It is shameful that Congress has an 11% approval rating yet 90% of Americans think their Congressman is doing a fine job. Well, the truth is they are not. Incumbents are the problem.

The second thing you can do is tell your Congressman to pass a balanced budget amendment and term limits. Then eliminate 100% of all earmarks to rid Congress of special interests.

Third, let states take more responsibility for their own fiscal matters. Scale back the Federal Bureaucracy and give the power back to states. Then the states will have to compete with one another for residents. If states makes the wrong choices, they will see their people move to a neighboring state with a better system (most likely lower taxes).

Finally, people have to stop depending on the Federal Government to cover their risks. That would include aid after hurricanes, bail outs when the markets get tough, and any other program that creates morale hazard. This is not the government's money, it is tax payer's money. Unfortunately when it goes through the machine of government, it gets spit back out at 50% of it original value.

Petition Drive

Dear Friend,

Can "we the people" really save our economy? Can we really force our government to face the inconvenient truth of the $53 trillion hole we're in? That's the sum of all the US government's current financial obligations including unfunded promises for Social Security and Medicare - a $455,000 bill for every household in this country.

The answer is "YES" - there IS something each of us can do. Click here to add your signature to a letter we're publishing in the New York Times (more on the letter below).

This new movement for fiscal responsibility is just a few weeks old. And yet, thanks to folks like you, we've already made significant strides:

• Over 100,000 of you have already signed on to help us fight for fiscal responsibility in Washington and at home
• Our effort already has been covered extensively by the media, ranging from the New York Times, ABC News and CNN to literally thousands of blog mentions (source: Technorati)
• "I.O.U.S.A.," our feature documentary about the impending fiscal crisis, has made an incredible splash. Not only did the film get three and a half stars from Roger Ebert, and rave reviews from the New York Times and other critics, but it set an opening-day record for a documentary, thanks to a bonus post-screening town hall, and is about to break into the ranks of the top 100 highest-grossing documentaries of all time (source: BoxOffice Mojo).

That's right - a documentary about fiscal responsibility is about the break into the top 100! And the film is still in theaters in selected cities; check here for listings.

We've taken the first step together, and we've begun to build the movement that cynics claimed was impossible. We're sounding the alarm and America is waking up. Now, it's time to take it to the next level. Here's how you can help:

This Sunday, we'll be publishing a letter across two full pages in the New York Times calling upon the presidential nominees to move beyond the "denial" stage, recognize that America has a $53 trillion problem, and start taking steps to solve it. This letter will be signed by a bipartisan group of some of the country's most prominent leaders in finance and fiscal policy-making, and by representatives of young people's organizations around the country. You can add YOUR name by visiting www.PGPF.org today. Please help us make this letter one our next President can't ignore.

Are you on Facebook? If so, please visit the Peter G. Peterson Foundation and I.O.U.S.A. pages and become a fan today.

And finally, spread the word! Forward this e-mail to your 10,000 closest friends.

We've started a movement for fiscal responsibility - a movement few thought possible. And with your help, we will wake up America and set the nation on a course toward a more secure future and a brighter tomorrow.

All the best,

Dave Walker
President and CEO, Peter G. Peterson Foundation

PS, For more about "I.O.U.S.A," click here to see the trailer, bonus clips, and my polite disagreement with Warren Buffett!