To be ratified this bill would have to be supported by 2/3 of the House and Senate, and then 3/4 of the states. Does it stand any chance? If not, then is this just a political stunt to make Senator lee look fiscally responsible, when he knows that this wan't happen?
Friday, April 15, 2011
Freshman Senator Mike lee of Utah has introduced an amendment to the Constitution that would, if passed, ban federal deficit spending unless 2/3 of both the Senate and the House voted to over rule. This amendment is even more ambitious then previous balanced budget amendments because it also limits federal spending to 20% of GDP. Senator lee claims to be a tea partier and he was one of 3 US Senators to vote against extending the Patriot Act.