MADISON, Wis. — By the time President Barack Obama leaves office this week, the U.S. debt will be approaching $20 trillion.continue at WatchDog
Fiscal conservatives say it’s long past time to deal with the mess.
A Wisconsin lawmaker says the Badger State will soon take a big step toward getting the federal government’s fiscal house in order.
State Sen. Chris Kapenga, R-Delafield, said he will soon introduce a bill calling for Wisconsin to join the much-discussed Article V convention of the states that would draft a federal balanced budget amendment.
Another initiative elsewhere calls for a package amendment that would limit the power and jurisdiction of the federal government and impose federal term limits.
The constitution includes two mechanisms to bring amendments: through Congress and by a convention the states. Under Article 5 of the U.S. Constitution, it takes two-thirds of the states to call a convention. That magic number is 34 states.
As of late last year, a reported 28 states had gone on record in support of a convention of states to discuss a balanced budget amendment.