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JOINT RESOLUTION MEMORIALIZING THE PRESIDENT OF THE UNITED STATES AND THE UNITED STATES CONGRESS TO SUPPORT A BALANCED BUDGET AMENDMENT
WE, your Memorialists, the Members of the One Hundred and Twenty-fifth Legislature of the State of Maine now assembled in the First Regular Session, most respectfully present and petition the President of the United States and the United States Congress as follows:
WHEREAS, controlling our debt and passing balanced budgets is a matter of great moral and economic significance; and
WHEREAS,  since the year 2000 our national debt has more than doubled and the United States Government borrows on average $5,000,000,000 for each business day; and
WHEREAS,  the national debt on January 1, 1791 was $75,000,000 and currently the national debt rises by that amount every hour; and
WHEREAS,  our out-of-control debt not only endangers our standing as the leading economy in the world but was characterized as a national security threat by Secretary of State Hillary R. Clinton on September 8, 2010; and
WHEREAS,  49 of the 50 states are required by law to pass balanced budgets; and
WHEREAS,  our nation's debt is being passed on to future generations, who have no say in the decision‑making process; and
WHEREAS,  passing our debt to the next generation is contradictory to the American principle of leaving our nation, states and local communities in better shape than we found them; now, therefore, be it
RESOLVED: That We, your Memorialists, in order to protect future generations, respectfully encourage the passage and adoption of a constitutional amendment to require a balanced budget except for times of war or national emergency or upon a two-thirds vote of both Houses of the United States Congress; and be it further
RESOLVED: That suitable copies of this resolution, duly authenticated by the Secretary of State, be transmitted to the Honorable Barack H. Obama, President of the United States, to the President of the United States Senate, to the Speaker of the United States House of Representatives and to each Member of the Maine Congressional Delegation.