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Mr. McINTYRE. Mr. Speaker, I rise today in support of H.J. Res. 2, a balanced budget constitutional amendment. With the national debt topping more than $15 trillion, it is critical that we pass this important legislation to improve our Nation's economic health and national security.
Mr. Speaker, $48,570, that's the price we're putting on the head of every American, the portion that every man, woman, and child owes today to pay off our Nation's skyrocketing Federal debt. It's often said that our children and future generations will pay for the choices we make today. But the truth is that we're incurring debt at such a rapid pace that we'll begin to pay that price sooner than expected. We'll pay now as well as later. As public debt continues to grow, including borrowing from foreign nations such as China, interest costs alone are soaring into the stratosphere. Our economy, our military strength, and the opportunity for future growth are at risk if this problem is not addressed more quickly. That's why I will stand here today to support H.J. Res. 2, a balanced budget amendment.
Since first coming to Washington in 1997, I have cosponsored legislation that would adopt a balanced budget amendment to the Constitution. This critical legislation would require the Federal Government to balance its budget like most States are required to do. In fact, 49 of the 50 States have some form of a balanced budget requirement. So this is not something novel or unusual. It's something that makes sense. My home State of North Carolina has one of the most stringent requirements to do so.
Let's stand together today for common sense. Let's send a message to the American people that we can keep our fiscal house in order, that we can balance our budget, and we can do the right thing with the American taxpayers' dollars to put our Nation on a path of economic strength and vitality.
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