Proposing an amendment to the Constitution of the United States related to the public debt.

Bill 118 hjres 229, also known as the Public Debt Amendment, is a proposed amendment to the Constitution of the United States that aims to address the issue of the public debt. The bill seeks to limit the federal government's ability to incur debt by requiring a balanced budget each fiscal year.

If passed, this amendment would mandate that total federal spending for any fiscal year cannot exceed total federal revenue, unless approved by a three-fifths majority in both the House of Representatives and the Senate. This would effectively prevent the government from running deficits and accumulating more debt.

The bill also includes provisions for emergencies, allowing for temporary deviations from the balanced budget requirement in times of war or other national crises. However, any such emergency spending would still require approval by a three-fifths majority in Congress. Supporters of the Public Debt Amendment argue that it is necessary to ensure fiscal responsibility and prevent the government from burdening future generations with excessive debt. Critics, on the other hand, raise concerns about the potential impact on government programs and services, as well as the flexibility needed to respond to economic downturns and other unforeseen circumstances. Overall, Bill 118 hjres 229 represents a significant proposal to address the issue of the public debt in the United States and has sparked debate among lawmakers and the public about the best approach to fiscal policy.