Loading chat...
FL H1583
M
Status
Failed
4/30/2010
Primary Sponsor
Marcelo Llorente
Click for details
AI Summary
- Urges Congress to balance the federal budget and adhere to the same fiscal standards expected of U.S. citizens.
- Cites national debt approaching $12 trillion (approximately $40,000 per person) with projected addition of $5 trillion over 5 years under the Obama Administration.
- Notes the 2009 national deficit equaled nearly 10 percent of GDP, unfunded liabilities for Social Security and Medicare exceed $106 trillion, and foreign nations owned approximately 30 percent of federal debt in 2009.
- Warns that federal debt interest payments in 2008 exceeded $400 billion (approximately 10 times Department of Homeland Security spending) and credit agencies threatened loss of AAA credit rating due to budget deficits.
- Directs copies of the memorial be sent to the President, Senate President, House Speaker, and all members of the Florida delegation to Congress.
Legislative Description
Federal Budget
Last Action
Died in Messages
4/30/2010
Committee Referrals
Full Appropriations Council on Education & Economic Development3/10/2010
Full Bill Text
No bill text available