Title: Balancing the Federal Budget

Summary: Urges Congress to take immediate actions to reduce federal debt & enact legislation requiring balanced federal budget.

Full Text:
WHEREAS, the a mount of debt carried by the Federal Government affects the amount of interest it pays in a fiscal year, and WHEREAS, as of October 2022, the first month in the 2022 2023 federal fiscal year, maintaining the national debt costs the Federal Government $48 billion per month or percent of total federal spending, and WHEREAS, as inflation and interest rates increase, the Federal Government encounters higher interest rates on borrowed moneys, and WHEREAS, as the national debt increases, Congress is forced to raise the debt ceiling or risk not being able to pay Federal Government expenditures, resulting in government shutdowns and employee furloughs that threaten national security, and WHEREAS, states, including Florida, require their state WHEREAS, Congress has attempted, unsuccessfully, to introduce and enact legislation requiring its members to pass a balanced budget, and WHEREAS, the people of Florida recogni zed the wisdom of fiscal discipline and enshrined in the State Constitution the requirement for a balanced budget, thereby placing prudent limits on government spending, and WHEREAS, the Florida Legislature has made fiscally responsible decisions, has mai ntained a balanced budget, and has saved residents of this state from crippling deficits, massive debt burdens, and bankruptcy, and WHEREAS, the Florida Legislature calls on members of Congress to enact legislation requiring a balanced budget; to mandate the Federal Government operate with fiscal responsibility, discipline, and common sense; and to operate within the revenues granted to it by the people, and WHEREAS, in order to ensure the stability of government and business functions at the local, regio nal, state, and national levels, it is imperative that the Federal Government take action to cut costs, reduce the tax burden on American families and businesses, operate according to principles of fiscal responsibility and discipline, and balance the fede ral budget, NOW, THEREFORE, HM 2023 hm0189 FL OR I DA HO US EO FR EP RE SE NT A TI VE SR EP RE SE NT A TI VE SBe It Resolved by the Legislature of the State of Florida: That the Congress of the United States is urged to take immediate action to begin to reduce the national debt and enact legislation requiring a balanced federal budget. BE IT FURTHER RESOLVED that the Secretary of State is directed to dispatch copies of this memorial 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 Congress of the United States.