Constitutional amendment would require majority approval from states in order for the federal government to raise the debt limit

On the eve of the National Debt Relief Amendment (HCR 87) committee hearing, the Pelican Institute for Public Policy has released research to explain the proposal to a broad audience. The NDRA resolution is for a state-led Article V amendment to the U.S. Constitution, already passed by North Dakota, and it would be the first since original ratification.
Sponsored in Louisiana by Noble Ellington (R-Winnsboro), the NDRA would allow states to reject rising federal debt. It reads:
“An increase in the federal debt requires approval from a majority of the legislatures of the separate States.”
The three research articles are the following:

Continue reading at the Pelican Post

http://www.thepelicanpost.org/2011/05/22/new-research-state-...