18th State Poised to Demand Balanced Budget Amendment
7:13 am EST May 7, 2012
By US Daily Review Staff.
The New Hampshire House of Representatives recently passed a resolution (HCR 40) that, if approved in the Senate, would make New Hampshire the 18th of 38 states needed to draft and ratify a Balanced Budget Amendment to the U.S. Constitution. Representative Ulery (District 27), the House Sponsor, stated, "a Balanced Budget Amendment (BBA) will force Congress to do what they seem incapable of doing, that is reduce spending and tell the American people the truth about the cost of our nation's unfunded entitlement promises."
Co-founder of the Balanced Budget Amendment Task Force
and Economics Professor (Ret.), Dr. Barry Poulson noted, "Under current level of deficit spending, the Congressional Budget Office (C.B.O.) estimates in ten years the average household will be paying annual income taxes of $10,000 + just for interest expense. The good news is that a strong BBA could, according to the C.B.O., pay off the debt, quadruple family incomes and allow for a 30% across the board tax cut by 2083."
"The American people could prosper for generations if New Hampshire and 37 other states propose and ratify a Balanced Budget Amendment (BBA) that stops the trillion-a-year deficits and pays back the $15 trillion in debt," said BBA Task Force Co-founder David Biddulph.
"Our founders gave the states in Article V of our Constitution a powerful mechanism to restrain the federal government if it should abuse or exceed its limited delegated authority. Over 70% (CNN Poll) of Americans want a BBA and New Hampshireplus 37 other states have the power to draft and approve one," said Co-founder Robert Thorpe.
Article V of the Constitution provides both Congress and the states with the exact same authority to propose a Balanced Budget Amendment. Congress has failed repeated attempts to propose a BBA. According to data compiled by the BBA Task Force, 17 states have binding applications of the 34 needed to force Congress to name the time and place for an interstate meeting (convention) to draft a Balanced Budget Amendment. New Hampshire's approval of a Balanced Budget Amendment Resolution (HCR 40) would mean 18, a majority of the required 34 states, would have applied for a BBA drafting meeting (convention).
The Balanced Budget Amendment Task Force is a non-profit, non-partisan organization whose mission is to educate state legislators on their Constitutional power to propose and ratify a Balanced Budget Amendment to the U.S. Constitution that aims to quadruple family income and pay off the nation's debt within four generations.
President Ronald Reagan said August 12, 1987, "We desperately need the power of a constitutional amendment to help us balance the budget. Over 70 percent of the American people want such an amendment. They want the Federal Government to have what 44 (Note: now 49) state governments already have…discipline."
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