STATE OF OKLAHOMA

1st Session of the 53rd Legislature (2011)

HOUSE
RESOLUTION 1028	By:	Bennett, Farley, Reynolds and Ritze  

AS INTRODUCED

A Resolution memorializing Congress to refrain from taking action to increase the current legal limit on federal indebtedness.

WHEREAS, the United States currently has a debt in excess of Fourteen Trillion Dollars ($14,000,000,000,000.00); and
WHEREAS, there is a limit on the amount of debt that the United States government is allowed to incur; and
WHEREAS, the Congress of the United States is currently considering an amendment to federal law that would allow the United States government to incur debt greater than the amount of the current limit; and
WHEREAS, even the current amount of indebtedness represents an intolerable fiscal burden for the United States; and
WHEREAS, the current rate of growth in the U.S. economy is not sufficient to justify the current level of debt and is therefore completely inadequate to support any additional borrowing by the United States; and
WHEREAS, under no circumstances should the United States Congress even consider a measure to increase the current debt limit; and
WHEREAS, it would be economically and fiscally irresponsible for Congress to increase the current debt limit.
NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES OF THE 1ST SESSION OF THE 53RD OKLAHOMA LEGISLATURE:
THAT the Congress of the United States is urged to exercise fiscal and economic restraint and not increase the current level of authorized federal indebtedness which has already reached a dangerous and unsupportable level.
THAT copies of this resolution be distributed to each member of the Oklahoma Congressional Delegation.

53-1-7545	MAH	04/14/11