Short title; findings

(a) Short title This Act may be cited as the Balanced Budget Accountability Act. (b) Findings Congress finds the following: (1) The Federal debt exceeds $36,000,000,000,000, continues to grow rapidly, and is larger than the size of the United States economy. (2) The Federal budget has shown an annual deficit in 55 of the last 60 years. (3) Deficits and the Federal debt threaten to shatter confidence in the Nation’s economy, suppress job creation and economic growth, and leave future generations of Americans with a lower standard of living and fewer opportunities. (4) It is the duty of Members of Congress to develop and implement policies, including balancing the Federal budget, that encourage robust job creation and economic growth in the United States. (5) Members of Congress should be held accountable for failing to pass annual budgets that result in a balanced budget.