Constitutional amendment would require majority approval from states in order for the federal government to raise the debt limitSubmitted by reross on Mon, 05/23/2011 - 12:05
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