By Raymond                                            H.C.R. No. 23
       74R2499 GCH-F
                                 CONCURRENT RESOLUTION
    1-1        WHEREAS, The President and Congress of the United States have
    1-2  the ability to propose and adopt a balanced budget for the
    1-3  operations of the federal government but have done so only once in
    1-4  the past 32 years; and
    1-5        WHEREAS, The fiscal responsibility and discipline of a
    1-6  balanced federal budget are necessary to restore and maintain the
    1-7  long-term economic health and prosperity of the nation and to
    1-8  prevent the imposition of a crushing economic burden on future
    1-9  generations of Americans; and
   1-10        WHEREAS, The national debt now exceeds $4 trillion, more than
   1-11  3-1/2 times what it was only 12 years ago, and interest payments on
   1-12  the national debt will soon become the single greatest government
   1-13  expense, surpassing defense and social security; and
   1-14        WHEREAS, With a current cost of almost $300 billion per year,
   1-15  or about $800 million per day, the continuing, rapid increase in
   1-16  interest payments leaves fewer resources available to address the
   1-17  numerous serious issues facing this nation, such as drug and crime
   1-18  problems, education, health care, employment training, and many
   1-19  others; and
   1-20        WHEREAS, Interest payments on the national debt serve to
   1-21  redistribute income from primarily low-income and middle-income
   1-22  taxpayers to the higher-income category of persons, including
   1-23  wealthy, overseas investors, who can afford to invest in government
   1-24  securities; and
    2-1        WHEREAS, Previous efforts and agreements by the president and
    2-2  congress to control the federal budget have failed repeatedly, as
    2-3  evidenced by the massive deficits of the past 12 years and the
    2-4  record deficit of 1994, estimated at almost $500 billion; and
    2-5        WHEREAS, Constitutional constraints have worked successfully
    2-6  throughout this nation, and states, including Texas, have operated
    2-7  within balanced budget requirements despite the increased tendency
    2-8  of the federal government to devolve more programs and costs to the
    2-9  state level; now, therefore, be it
   2-10        RESOLVED, That the 74th Legislature of the State of Texas
   2-11  hereby memorialize the Congress of the United States to adopt and
   2-12  propose to the states an amendment to the United States
   2-13  Constitution that requires the president to propose and the
   2-14  congress to enact a balanced budget for the federal government;
   2-15  and, be it further
   2-16        RESOLVED, That the proposed constitutional amendment be
   2-17  similar in content to Senate Joint Resolution 18 of the 1st Session
   2-18  of the 102nd Congress, sponsored by Senator Paul Simon and others;
   2-19  and, be it further
   2-20        RESOLVED, That the Texas secretary of state forward official
   2-21  copies of this resolution to the president of the United States, to
   2-22  the speaker of the house of representatives and president of the
   2-23  senate of the United States Congress, and to all members of the
   2-24  Texas delegation to the congress, with the request that this
   2-25  resolution be officially entered in the Congressional Record as a
   2-26  memorial to the Congress of the United States of America.