HR1988: HR1988 Chronic federal deficit spending as a root cause of inflation and long-term economic instability; recognize

26 LC 112 4086 House Resolution 1988 By: Representatives Barrett of the 24th, Gaines of the 120th, Blackmon of the 146th, Tarvin of the 2nd, Cannon of the 172nd, and others A RESOLUTION Recognizing chronic federal deficit spending as a root cause of inflation and long-term1 economic instability; and for other purposes.2 WHEREAS, state governments are constitutionally or statutorily required to balance their3 budgets, demonstrating that fiscal responsibility and essential public services are not4 mutually exclusive; and5 WHEREAS, for decades, the federal government has engaged in habitual deficit spending,6 treating fiscal imbalance as a normal condition of governance r ather than an exception7 reserved for true national emergencies; and8 WHEREAS, persistent federal deficit spending has resulted in unprecedented national debt9 levels, requiring continuous borrowing that expands the money s upply and places upward10 pressure on inflation; and11 WHEREAS, inflation functions as a hidden tax on working families, retirees, fixed-income12 households, and small businesses by eroding purchasing power, increasing the cost of food,13 housing, energy, healthcare, and transportation, and diminishing the real value of wages and14 savings; and15 H. R. 1988 - 1 - 26 LC 112 4086 WHEREAS, while the federal budget cannot reasonably be balanced overnight, continued16 delay and inaction reflect a failure of fiscal stewardship and a disregard for intergenerational17 responsibility.18 NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES that19 the members of this body recognize chronic federal deficit spen ding as a root cause of20 inflation and long-term economic instability.21 BE IT FURTHER RESOLVED that the members of this body affirm that fiscal discipline22 is not merely an accounting exercise but a moral obligation to protect the economic security23 of present and future generations of Americans.24 BE IT FURTHER RESOLVED that the Clerk of the House of Representatives is authorized25 and directed to make appropriate copies of this resolution avai lable for distribution to the26 Speaker of the United States House of Representatives, the Majo rity Leader of the United27 States Senate, and the members of the Georgia Congressional Delegation.28 H. R. 1988 - 2 -