Balanced Budget Amendment Now ; Past Failures and Present Debt Danger Leave Us One Responsible Choice

Summary

---

Earlier this year, Congress laid forth an historic framework to address our nation's looming debt crisis. The federal government is over $15 trillion in debt. None of us can ignore the threat that we soon could face here at home the crisis we have seen unfolding abroad. If left unaddressed, our crushing national debt could require catastrophic cuts to national security and Social Security or could force our government into default.

Unfortunately, we have stood at these gates before, and the legislative solutions Congress created to address and defeat these threats have failed. Congress has the power not only to create law, but to change it and even repeal it. We now have an opportunity to ensure that the legacy we pass on to our children and grandchildren is not another failed legislative approach but a pure resolution that will pass down through the generations. Let us take a lesson from the past:

See the full content of this document

Extract

---

Balanced Budget Amendment Now ; Past Failures and Present Debt Danger Leave Us One Responsible Choice

* December 1985: The Gramm-Rudman-Hollings Act (GRH) is passed to address worrisome budget deficits. It sets spendin...

See the full content of this document

---