FL H0523

The Florida House of Representatives urges Congress to take immediate action to reduce the federal debt and enact legislation requiring a balanced federal budget.

The United States debt limit reached $22 trillion by July 2021 and was reset to $28.4 trillion on August 1, 2021.

The Congressional Budget Office reported a federal deficit of $2.8 trillion for fiscal year 2021 (October 1, 2020 through September 30, 2021).

The Committee for a Responsible Federal Budget projects federal debt could reach 113 percent of gross domestic product by 2031 if current spending trends continue.

Copies of this memorial are to be sent to the President, President of the Senate, Speaker of the House, and all members of the Florida delegation to Congress.