From the Balanced Budget Task Force
LEESBURG, Virginia (November 20, 2013) - Today, the Ohio General Assembly answered Governor John Kasich's call to action by passing a resolution, with bipartisan support, demanding that Congress set the time and place for a Convention of the States to draft a balanced budget amendment to the U.S. Constitution.
Article V of the Constitution provides both Congress and the states with equal authority to propose an amendment. Under Article V. of the U.S. Constitution thirty-four states need to pass a similar resolution to initiate a convention for the sole purpose of drafting a balanced budget amendment.
The total U.S. debt has increased every year since 1957. Now, only 12 countries out of world's 196 have a higher debt to G.D.P. ratio than does the U.S. (102%). Among these are Greece - 157%, Zimbabwe-151%, Jamaica-146%, Italy-127% and Portugal -124%.
Chairman of the Joint Chiefs of Staff, Navy Admiral Mike Mullen stated, "I've said many times that I believe the single, biggest threat to our national security is our debt."
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