Bill > HR1113

This resolution, originating from the House of Representatives, urges the United States Congress to recognize that consistently spending more money than it collects in revenue, known as chronic federal deficit spending, is the primary reason for inflation and long-term economic instability. The resolution highlights that unlike state governments which are required to balance their budgets, the federal government has made deficit spending a norm, leading to a massive national debt that necessitates continuous borrowing. This borrowing expands the money supply, which in turn drives up prices, making everyday necessities like food and housing more expensive and reducing the value of people's wages and savings. The resolution calls for Congress to create and follow a clear plan to balance the federal budget within ten years, emphasizing that fiscal responsibility is a moral duty to protect the economic future of all Americans.

Government Affairs

https://www.legis.ga.gov/legislation/72526