Proposing an amendment to the Constitution of the United States prohibiting the United States Government from increasing its debt except for a specific purpose by law adopted by three-fourths of the membership of each House of Congress.
Impact
Should HJR9 be ratified, it would fundamentally change how the federal government approaches its fiscal policy and would likely lead to more stringent budgeting practices. By requiring a supermajority for any increases in the debt ceiling, the bill would incentivize lawmakers to prioritize fiscal responsibility and to find alternative solutions to address budget deficits. This could result in a more restrained approach to government spending, emphasizing the need for fiscal accountability within the legislative process.
Summary
HJR9 is a proposed amendment to the United States Constitution that seeks to restrict the federal government from increasing its debt unless it is for a specific purpose, and such an increase must be approved by three-fourths of the membership in both the House of Representatives and the Senate. This measure is aimed at enforcing greater fiscal discipline within the federal budget by imposing stricter controls on the government's ability to borrow. Proponents argue that it will help prevent excessive government borrowing that could lead to financial instability.
Contention
However, the proposal does not come without its controversies. Critics argue that such a stringent requirement could hinder the government's ability to respond effectively to economic crises or emergencies, as it may limit the flexibility needed for timely fiscal interventions. The necessity for bipartisan support to approve any debt increase could lead to legislative gridlock, particularly during times of economic downturn when swift action may be necessary. Additionally, concerns have been raised regarding potential impacts on essential government services that rely on flexible funding mechanisms.
Notable_points
Overall, HJR9 represents a significant shift in fiscal governance and raises critical questions about the balance between fiscal responsibility and the government's capacity to manage economic challenges effectively. As discussions on the bill progress, it will be pivotal to consider how such constitutional amendments align with broader economic principles and the existing fiscal framework.
This joint resolution proposes a constitutional amendment that prohibits the U.S. government from increasing its debt except for a specific purpose by a law adopted by three-fourths of the membership of each chamber of Congress.
Proposing an amendment to the Constitution of the United States giving Congress power to prohibit the physical desecration of the flag of the United States.