FL S1742

Urges Congress to establish a statutory, enforceable cap on federal spending at 20 percent of gross domestic product.

States the national debt exceeds $14.3 trillion, equivalent to approximately $46,000 per person in the United States.

Asserts the United States has a spending problem rather than a revenue problem, and that federal spending diverts resources from private sector job creation.

Directs the Florida Legislature to send copies of this memorial to the President, Senate President, House Speaker, and all members of the Florida congressional delegation.