http://www.humanevents.com/article.php?id=42644
Senate Minority Leader Mitch McConnell (R.-Ky.) will announce on Thursday afternoon that all 47 Republican Senators have co-sponsored a “consensus Balanced Budget Amendment to the U.S. Constitution,” HUMAN EVENTS has learned exclusively. This year’s budget deficit is projected to be $1.6 trillion, and the national debt is currently $14.1 trillion.
The key provisions of the new balanced budget amendment (BBA) are: Congress must pass a balanced budget; the President has to submit a balanced budget; spending is capped at 18% of the Gross Domestic Product (GDP); “supermajority” vote (two-thirds of House and Senate) to raise taxes; and “new supermajority” vote (three-fifths of House and Senate) to raise the debt ceiling.
Senate Minority Leader Mitch McConnell (R.-Ky.) will announce on Thursday afternoon that all 47 Republican Senators have co-sponsored a “consensus Balanced Budget Amendment to the U.S. Constitution,” HUMAN EVENTS has learned exclusively. This year’s budget deficit is projected to be $1.6 trillion, and the national debt is currently $14.1 trillion.
The key provisions of the new balanced budget amendment (BBA) are: Congress must pass a balanced budget; the President has to submit a balanced budget; spending is capped at 18% of the Gross Domestic Product (GDP); “supermajority” vote (two-thirds of House and Senate) to raise taxes; and “new supermajority” vote (three-fifths of House and Senate) to raise the debt ceiling.