By US Daily Review Staff.
It appears a move towards a Balance Budget is not going to gather anything but rhetoric in the nation’s capital. As a result, there are some members of the Georgia Legislature are trying to add momentum to an issue that is gathering support among state governments around the country. This is their story.
Georgia State Representative Andrew Welsh (District 110) introduced a resolution (HR 1187) and Georgia State Senator Bill Cowsert (District 46) introduced a resolution (SR 673) on January 13, 2012 that, if approved, would make Georgia the 18th of 38 states needed to provide constitutional fiscal discipline for the federal government. Cowsert stated, “Since Congress refuses to be fiscally responsible on its own, it is time for the states to pass a balanced budget amendment (BBA) so that future generations can enjoy the American dream of economic prosperity and freedom.”
Co-founder of the BBA Task Force and Economics Professor (Ret.), Dr. Barry Poulson noted, “Under current levels 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 on the debt. 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.”
Pete Sepp, Co-founder and Executive VP of National Taxpayers Union, added, “Late last year Congress refused to propose a BBA or any other long-term solution to the debt problem. Washington’s irresponsible deficit spending must be brought under control… and can be if Georgia acts with other states on behalf of constitutional taxpayer protections.”
David Biddulph, Co-founder stated, “We are thrilled that the Georgia Legislature could be a leader among the 38 states needed to pass a BBA that would Constitutionally end our nation’s $2 million a minute deficit addiction that has resulted in passing a$15,000,000,000,000 + debt nightmare to our children.”
“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 38 states have the power to draft and approve one,” said Co-founder Robert Thorpe.
Over 25 years ago Ronald Reagan said, “I think most of you know how badly out of control Federal spending has gotten in recent years. That’s why I’m one of those Americans who has always believed a constitutional amendment mandating that Congress balance the budget is the answer to what ails us. It (Balanced Budget Amendment) must prevail because if it does not, the free society we have known for two hundred years, the ideal of a government by consent of the governed will simply cease to exist.”
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 debt within four generations.