Title: Federal Spending Cap

Summary: Urging Congress to cap federal spending as a percentage of gross domestic product, etc.

Full Text:
WHEREAS, the national debt as a percentage of gross domestic product (GDP) is at historic highs and projected to continue rising if action to constrain spending is not taken, and WHEREAS, the United States does not have a revenue problem, it has a spending problem, and WHEREAS, every dollar the Federal Government takes out of the American economy is a dollar that cannot be used by American companies and entrepreneurs to create jobs and economic growth, and WHEREAS, the nation s current budget crisis, if continued, will burden future generations with massive amounts of debt, and WHEREAS, it is prudent to establish a statutory, enforceable cap to align federal spending with average revenues at percent of GDP and, thus, reduce the national debt and protect America s financial future, NOW, THEREFORE, Be It Resolved by the Legislature of the State of Florida: That the Florida Legislature respectfully urges the Congress of the United States to cap federal spending at percent of gross domestic product. BE IT FURTHER RESOLVED that copies of this memorial be dispatched to the President of the United States, to the President of the United States Senate, to the Speaker of the United States House of Representatives, and to each member of the Florida delegation to the United States Congress.