0001|                           HOUSE MEMORIAL 5
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0002|     43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003|                            INTRODUCED BY
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0004|                            KIP W. NICELY
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0005|     
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0006|                                   
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0007|     
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0008|     
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0009|     
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0010|                              A MEMORIAL
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0011|     REQUESTING THE CONGRESS OF THE UNITED STATES TO SUBMIT A
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0012|     BALANCED BUDGET CONSTITUTIONAL AMENDMENT TO THE STATES FOR
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0013|     RATIFICATION.
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0014|     
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0015|          WHEREAS, the nation sinks into deeper debt each year as
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0016|     the federal government's expenditures exceed revenues, that
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0017|     debt now approximating four trillion nine billion dollars
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0018|     ($4,009,000,000,000), or nineteen thousand dollars ($19,000)
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0019|     for every person in the country; and
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0020|          WHEREAS, the federal government's budget has not been in
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0021|     balance since 1969, demonstrating an unwillingness and
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0022|     inability of both the executive and the legislative branches to
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0023|     spend in conformity with available revenues; and
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0024|          WHEREAS, prudence requires that the budget not be
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0025|     manipulated to appear to be responsible while servicing the
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0001|     debt continues to grow as a percentage of the annual budget;
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0002|     and
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0003|          WHEREAS, fiscal irresponsibility results in a lower
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0004|     standard of living and reduced economic opportunity and poses
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0005|     the greatest threat to the national interest; and
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0006|          WHEREAS, Thomas Jefferson admonished the young republic
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0007|     that "the question whether one generation has the right to bind
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0008|     another by the deficit it imposes is a question of such
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0009|     consequence as to place it among the fundamental principles of
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0010|     government.  We should consider ourselves unauthorized to
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0011|     saddle posterity with out debts, and morally bound to pay them
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0012|     ourselves"; and
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0013|          WHEREAS, the principal purposes of the constitution of the
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0014|     United States are to promote the principle of government of, by
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0015|     and for the people; hold the government responsible and
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0016|     accountable; and limit the powers of the government so as to
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0017|     protect the basic rights of the people; and
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0018|          WHEREAS, the federal government's unlimited ability to
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0019|     borrow has such consequences that it should be limited by the
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0020|     constitution; and
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0021|          WHEREAS, the ultimate responsibility to amend the
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0022|     constitution rests with the people of the several states and
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0023|     their elected legislators; and
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0024|          WHEREAS, a small minority of federal elected officials
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0025|     have obstructed the people's will to have a balanced budget
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0001|     amendment; 
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0002|          NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF
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0003|     REPRESENTATIVES OF THE STATE OF NEW MEXICO that congress be
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0004|     requested to submit a balanced budget constitutional amendment
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0005|     to the states for ratification; and
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0006|          BE IT FURTHER RESOLVED that the legislatures of the other
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0007|     states be encouraged to request congress to submit a balanced
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0008|     budget amendment to the states; and
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0009|          BE IT FURTHER RESOLVED that copies of this memorial be
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0010|     transmitted to the New Mexico congressional delegation, to the
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0011|     president of the United States and to each of the legislatures
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0012|     of the other states.
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0013|                              
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