S. C. R. No. 20 As Introduced

As Introduced

130th General Assembly

Regular Session

2013-2014

S. C. R. No. 20

Senator Burke

Cosponsors: Senators Hite, Eklund, Uecker, Jordan, Seitz, Schaffer

A CONCURRENT RESOLUTION

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

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