Balanced Budget Amendment Fails in House
US News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
The House narrowly failed to pass a balanced budget amendment, falling short of the required two-thirds majority. This proposal, aimed at ending deficit spending, would have limited federal outlays to the average revenue from the previous three years, with adjustments for inflation and population growth. The national debt, now at thirty-nine trillion dollars, continues to grow due to long-term deficits, tax reductions, military conflicts, economic downturns, and increasing interest payments. The sudden vote caught even the sponsor off guard, highlighting ongoing tensions over federal spending.
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