Atlanta, GA – The Georgia General Assembly today approved SR 371, a resolution under the authority of Article V of the U.S. Constitution, calling for a convention of states to propose a balanced budget amendment to the U.S. Constitution.
Senate Sponsor of SR 371, Bill Cowsert (District 46) stated, “I am proud that the Georgia General Assembly has taken this step toward constitutionally stopping an out of control federal government that has doubled our nation’s debt every 5 years from $1 trillion in 1982 to $17 trillion today.” House Sponsor, Rich Golick (District 40) added, “Georgia’s legislators listened to the 74% of Georgia and U.S. Citizens (CNN) who not only support a U.S. Balanced Budget Amendment but also consider the debt to be the second biggest problem facing our country after jobs (WSJ).”
The total U.S. debt has increased every year since 1957 (U.S. Treasury Department). Now only 10 countries out of world’s 193 have a higher total debt to G.D.P. ratio than does the U.S. (107%). That list includes: Greece – 159%, Jamaica-147%, Italy-127% & Portugal-123%. (Source: I.M.F.) The non-partisan Congressional Budget Office recently estimated that under current law the federal government will be $27.2 trillion in debt by 2024 for an average increase in total debt of $1 trillion per year.
Former Chairman of the Joint Chiefs of Staff, Navy Admiral Mike Mullen stated, “I’ve said many times that I believe the single, biggest threat to our national security is our debt.”
BBATF Executive Director Scott Rogers stated, “I am proud the Georgia General Assembly has recognized its responsibility under Article V of the U.S. Constitution by passing this Resolution.”
Bill Fruth, Co-founder of the BBATF stated, “Special thanks to ‘I Am American.org’ led by Lou Marin and Loren Enns who were the major players behind the scenes by giving ‘key testimony’ during the Georgia committee hearings and getting the grassroots active in Georgia that directly impacted the passing of our Article V Balance Budget Amendment Application. Without a doubt they were the key ingredient to our success and made the difference.”
The Balanced Budget Amendment Task Force is a nonprofit, nonpartisan coalition whose mission is to educate state legislators on their Constitutional power to propose and ratify a Balanced Budget Amendment to the U.S. Constitution.
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