Balanced Budget Amendment is a proposed amendment to the Constitution of the United States of America that would require a balanced budget of the United States government. Though there is no definitive amendment under consideration, any type of Balanced Budget Amendment would require Congress balance government revenues to avoid a federal deficit.
National Debt
The lack "balanced" budget has led to the practice of "deficit spending". Deficit spending occurs when the government continues to spend when it has already exceeded its revenues, and thus increases the national debt. The United States has a National Debt exceeding $9 trillion.zFacts: National Debt Clocks and Savings Clocks (June 9, 2008)
Balanced Budget Amendment Background
References
Fast Facts
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Fact:
U.S. Constitution does not require the Congress to pass a balanced budget
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Fact:
U.S. Government has always been in debt with the exception of a short period during the presidency of Andrew Jackson
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Fact:
First budget surplus in decades occurred during Clinton's
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Fact:
Amendments to the Constitution must pass with a Supermajority
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1997
Balanced Budget Amendment failed to pass by one vote
