The late financial guru Larry Burkett prophesied almost 20 years ago in his book "The Coming Economic Earthquake" that an economic calamity was coming upon the U.S. unless a drastic effort was made to curb massive federal spending and the soaring deficit. Burkett was right. And he gave one basic principle to avoid the future market meltdown: "Don't be a slave to debt! Get out of debt!" Burkett is still right today. That is why I devoted the entire economic chapter in my book "Black Belt Patriotism" to how to "Stop America's Nightmare of Debt," both nationally and personally.

In my wife, Gena, and my most recent interview, I explained that if we are going to reawaken America, we have to return to our Founders' principles, which include fiscal prudence. We must follow the advice of those like Thomas Jefferson, who warned long ago, "To preserve (the) independence (of the people), we must not let our rulers load us with perpetual debt." (Now read that again, then one more time.)

How do we do that? We cap our spending and allow the supply-and-demand levels to lower to points commensurate with our incomes (not credit lines). We must learn to downsize and live within our means, and not borrow excessive amounts, even for investment debt like a home or business. We must cut spending, reduce our budgets, pay down our debts, and stabilize our homes and nation.

As for that clueless Congress, we must demand our representatives seek a balanced-budget amendment to the Constitution, which will keep the government living within its means. We must return to a pay-as-you-go government and nation. It's our last resort for an out-of-control economy. Thomas Jefferson once said, "The maxim of buying nothing but what we had money in our pockets to pay for (is) a maxim which, of all others, lays the broadest foundation for happiness."

If our country is to survive, we must elect only those who show proof of fiscal discipline, refuse under all circumstances to increase our national deficit, and commit to pass and live under a constitutional amendment for a balanced budget. And if our incumbents voted for the bailouts or bail on their fiscal frugality, then vote them out of office the next chance you get.