Bill Text: OH SCR20 | 2013-2014 | 130th General Assembly | Introduced
Bill Title: To memorialize the Congress of the United States to
Spectrum: Partisan Bill (Republican 7-0)
Status: (Introduced - Dead) 2013-08-21 - To Finance [SCR20 Detail]
Download: Ohio-2013-SCR20-Introduced.html
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Senator Burke
Cosponsors:
Senators Hite, Eklund, Uecker, Jordan, Seitz, Schaffer
To memorialize the Congress of the United States to | 1 |
propose a balanced budget amendment to the United | 2 |
States Constitution. | 3 |
BE IT RESOLVED BY THE SENATE OF THE STATE OF OHIO
(THE HOUSE OF REPRESENTATIVES CONCURRING):
WHEREAS, The current fiscal direction of the United States is | 4 |
unsustainable, and the economy can only withstand a limited amount | 5 |
of debt before markets lose confidence in the nation's ability to | 6 |
repay creditors; and | 7 |
WHEREAS, Unconstrained deficits could undermine future | 8 |
economic growth and cost Ohio jobs; and | 9 |
WHEREAS, Without action by Congress, interest rates on homes | 10 |
and cars could soar; the value of retirement accounts, stocks, and | 11 |
other assets may be reduced; and the price of goods and services | 12 |
could skyrocket; and | 13 |
WHEREAS, The United States government cannot maintain the | 14 |
status quo in regards to the federal budget because, given the | 15 |
aging population and rising cost of healthcare, the United States | 16 |
will not be able to maintain the following objectives at a level | 17 |
similar to the past forty years: keeping federal revenues at a | 18 |
comparable average share of the gross domestic product (GDP), | 19 |
providing the same standard of benefits to older Americans, and | 20 |
operating the rest of the federal government in line with its role | 21 |
in the economy and society; and | 22 |
WHEREAS, Simply eliminating waste and inefficiency will not | 23 |
put fiscal public policy on a sustainable path. Instead, changes | 24 |
will need to affect popular programs, people's tax payments, or | 25 |
both; and | 26 |
WHEREAS, The federal budget deficits for each federal fiscal | 27 |
year from 2009 to 2012 have been the highest ever in dollar terms | 28 |
and significantly higher as a share of GDP than in any other year | 29 |
since World War II; and | 30 |
WHEREAS, The United States Office of Management and Budget | 31 |
projects that the national debt will reach $20.8 trillion at the | 32 |
end of federal fiscal year 2016; and | 33 |
WHEREAS, In 1835, for the first and only time in United | 34 |
States history, the entire national debt was paid off under | 35 |
President Jackson who warned that debt could "destroy the liberty | 36 |
of our country"; now therefore be it | 37 |
RESOLVED, That we, the members of the 130th General Assembly | 38 |
of the State of Ohio, urge the Congress of the United States to | 39 |
propose a balanced budget amendment to the United States | 40 |
Constitution in order to secure future prosperity for our children | 41 |
and grandchildren and enable the national debt to be paid by | 42 |
prohibiting total expenditures of the United States from exceeding | 43 |
total receipts in a fiscal year, except that, the requirement may | 44 |
be overridden by a three-fifths vote of each House or the | 45 |
requirement is waived for any fiscal year in which a declaration | 46 |
of war is in effect or when a majority of each House determines | 47 |
that the United States is engaged in a military conflict that | 48 |
poses a threat to national security; and be it further | 49 |
RESOLVED, That the Clerk of the Senate transmit duly | 50 |
authenticated copies of this resolution to the Speaker and Clerk | 51 |
of the United States House of Representatives, the President Pro | 52 |
Tempore and the Secretary of the United States Senate, the members | 53 |
of the Ohio Congressional delegation, the Governor of the State of | 54 |
Ohio, and the news media of Ohio. | 55 |