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S. C. R. No. 20 As IntroducedAs Introduced
| 130th General Assembly | | Regular Session | | 2013-2014 |
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Cosponsors:
Senators Hite, Eklund, Uecker, Jordan, Seitz, Schaffer
A CONCURRENT RESOLUTION | To memorialize the Congress of the United States to
propose a balanced budget amendment to the United
States Constitution.
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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
unsustainable, and the economy can only withstand a limited amount
of debt before markets lose confidence in the nation's ability to
repay creditors; and |
| WHEREAS, Unconstrained deficits could undermine future
economic growth and cost Ohio jobs; and |
| WHEREAS, Without action by Congress, interest rates on homes
and cars could soar; the value of retirement accounts, stocks, and
other assets may be reduced; and the price of goods and services
could skyrocket; and |
| WHEREAS, The United States government cannot maintain the
status quo in regards to the federal budget because, given the
aging population and rising cost of healthcare, the United States
will not be able to maintain the following objectives at a level
similar to the past forty years: keeping federal revenues at a
comparable average share of the gross domestic product (GDP),
providing the same standard of benefits to older Americans, and
operating the rest of the federal government in line with its role
in the economy and society; and |
| WHEREAS, Simply eliminating waste and inefficiency will not
put fiscal public policy on a sustainable path. Instead, changes
will need to affect popular programs, people's tax payments, or
both; and |
| WHEREAS, The federal budget deficits for each federal fiscal
year from 2009 to 2012 have been the highest ever in dollar terms
and significantly higher as a share of GDP than in any other year
since World War II; and |
| WHEREAS, The United States Office of Management and Budget
projects that the national debt will reach $20.8 trillion at the
end of federal fiscal year 2016; and |
| WHEREAS, In 1835, for the first and only time in United
States history, the entire national debt was paid off under
President Jackson who warned that debt could "destroy the liberty
of our country"; now therefore be it |
| RESOLVED, That we, the members of the 130th General Assembly
of the State of Ohio, urge the Congress of the United States to
propose a balanced budget amendment to the United States
Constitution in order to secure future prosperity for our children
and grandchildren and enable the national debt to be paid by
prohibiting total expenditures of the United States from exceeding
total receipts in a fiscal year, except that, the requirement may
be overridden by a three-fifths vote of each House or the
requirement is waived for any fiscal year in which a declaration
of war is in effect or when a majority of each House determines
that the United States is engaged in a military conflict that
poses a threat to national security; and be it further |
| RESOLVED, That the Clerk of the Senate transmit duly
authenticated copies of this resolution to the Speaker and Clerk
of the United States House of Representatives, the President Pro
Tempore and the Secretary of the United States Senate, the members
of the Ohio Congressional delegation, the Governor of the State of
Ohio, and the news media of Ohio. |
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