Bill 119 HJRes 10, also known as the Balanced Budget Amendment, is a proposed amendment to the Constitution of the United States. The purpose of this amendment is to require the federal government to operate with a balanced b...
udget, meaning that its spending cannot exceed its revenue.
The amendment would require Congress to pass a budget each year that does not result in a deficit, unless a three-fifths majority in both the House of Representatives and the Senate vote to allow for a deficit in certain circumstances, such as during times of war or national emergency.
Supporters of the Balanced Budget Amendment argue that it would help control government spending and reduce the national debt, which is currently over $28 trillion. They believe that a balanced budget requirement would force Congress to make tough decisions about spending priorities and prevent future generations from being burdened with excessive debt.
Opponents of the amendment argue that it could lead to cuts in important government programs, such as Social Security and Medicare, and hinder the government's ability to respond to economic downturns or emergencies. They also point out that balancing the budget could be difficult during times of recession or when facing unexpected expenses.
Overall, the Balanced Budget Amendment is a controversial proposal that has been debated in Congress for many years. It raises important questions about fiscal responsibility, government spending, and the role of the federal government in managing the nation's finances.