joint resolution Progress
- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Constitution, Civil Rights, and Civil LibertiesCommittee on the JudiciaryIntroducedJuly 27th, 2017
- house Committees
The federal government has lived beyond its means for far too long, racking up a $20 trillion debt that will have to be paid by future generations. A balanced budget amendment to the Constitution that also caps federal spending at 20 percent of GDP would help put the country’s fiscal house in order.
A balanced budget amendment would pose too much of a constraint on the federal government, preventing it from funding many vital programs because deficit spending would be difficult politically for Congress to approve. The federal government needs to tax and spend more despite the debt.