Posted on 05/07/2012 9:27:27 AM PDT by SCharles
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
(Excerpt) Read more at usdailyreview.com ...
Is there a handy list of states that have passed the resolution?
...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.
So far this year the State deficit is $18 billion.
An amendment did such a great job in Kalipornia after all.
lol
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