Urging Congress to propose amendment to United States Constitution to require federal government to operate under balanced budget wherein federal government expenditures do not exceed federal government revenues.
Impact
If implemented, SJM1 would necessitate a significant overhaul of the federal government's budgeting process and could lead to stricter fiscal controls at the federal level. By requiring a balanced budget, the amendment could limit Congress's ability to engage in deficit spending, which has long been a tool for stimulating the economy during downturns. This measure aims to reduce the national debt's growth and ensure that vital government services are funded responsibly without excessive borrowing.
Summary
Senate Joint Memorial 1 (SJM1) is a legislative proposal from the State of Oregon that urges Congress to consider an amendment to the United States Constitution requiring the federal government to maintain a balanced budget. This would mandate that federal expenditures do not exceed federal revenues, except in the case of national emergencies. The bill reflects a growing concern over the federal budget deficit and the increasing national debt, which its proponents argue places an undue burden on future generations and threatens economic stability.
Sentiment
The sentiment surrounding SJM1 appears to be supportive among its sponsors and advocates who view a balanced budget as a necessary step towards responsible governance. However, there are also concerns voiced by critics who argue that such a constitutional requirement could hamper the federal government's ability to respond effectively to economic crises. Overall, the dialogue is characterized by a desire for fiscal responsibility balanced against the necessity for flexibility in government spending.
Contention
Notable points of contention regarding SJM1 include the debates over the implications of enforcing a balanced budget amendment. Critics worry that the measure could lead to cuts in essential services during economic downturns when government spending is often needed to stimulate recovery. There are also calls for an examination of the potential consequences on state budgets and the broader economic landscape, emphasizing the need for careful consideration of how such an amendment might be enforced and the practical limitations it could impose.
Urging Congress to propose an amendment to the United States Constitution to require the federal government to operate under a balanced budget wherein federal government expenditures do not exceed federal government revenues.
Urging The United States Congress To Call A Convention For Proposing Amendments Pursuant To Article V Of The United States Constitution Limited To Proposing Amendments That Impose Fiscal Restraints On The Federal Government, Limit The Power And Jurisdiction Of The Federal Government, And Limit The Terms Of Office For Its Officials And Members Of Congress.
Urging The United States Congress To Call A Convention For Proposing Amendments Pursuant To Article V Of The United States Constitution Limited To Proposing Amendments That Impose Fiscal Restraints On The Federal Government, Limit The Power And Jurisdiction Of The Federal Government, And Limit The Terms Of Office For Its Officials And Members Of Congress.
Urging The United States Congress To Call A Convention For Proposing Amendments Pursuant To Article V Of The United States Constitution Limited To Proposing Amendments That Impose Fiscal Restraints On The Federal Government, Limit The Power And Jurisdiction Of The Federal Government, And Limit The Terms Of Office For Its Officials And Members Of Congress.
Applying to the Congress of the United States to call a convention under Article V of the United States Constitution for the limited purpose of proposing one or more amendments to the constitution to impose fiscal restraints on the federal government, to limit the power and jurisdiction of the federal government, and to limit the terms of office of federal officials and members of Congress.
A CONCURRENT RESOLUTION calling on the United States Congress to submit to the states for ratification a balanced budget amendment to the United States Constitution and making a formal application to Congress under Article V of the United States Constitution to call a convention for the sole purpose of proposing for ratification an amendment to the United States Constitution which requires a balanced federal budget.