Search Results for keywords:"debt-to-gdp ratio"

Search Results: keywords:"debt-to-gdp ratio"

H. R. 6957 — To require that the President’s annual budget submission to Congress and any concurrent resolution on the budget include the ratio of the public debt to the estimated gross domestic product of the United States, and for other purposes.
January 11, 2024
Status:Introduced in House
Congress:118
Words:404
The Debt-to-GDP Transparency and Stabilization Act (H.R. 6957) aims to make it a requirement that the President's annual budget submission to Congress, as well as any concurrent budget resolutions, include information on the ratio of public debt to the estimated gross...
Simple Explanation
The Debt-to-GDP Transparency and Stabilization Act (H.R. 6957) is a big rule that says the President must tell the people in charge of money how big the country's debt is compared to the size of everything we make, called GDP, every year. This helps them know if the country’s borrowing is too much or just right.
H. R. 9735 — To amend title 31 of the United States Code and the Congressional Budget Act of 1974 to automatically increase the debt limit for the fiscal year of a budget resolution, and for other purposes.
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September 20, 2024
Status:Introduced in House
Congress:118
Words:6,980
H.R. 9735, titled the “Responsible Budgeting Act,” seeks to amend existing U.S. code to streamline the process of increasing the national debt limit. Under this bill, if Congress adopts a budget resolution with a specific debt-to-GDP ratio, a joint resolution automatically...
Simple Explanation
H.R. 9735, called the "Responsible Budgeting Act," is like a rule that lets the country's leaders automatically adjust how much the country can borrow if they agree on a money plan, but if they don't, the President can make a suggestion on how to borrow enough money, and everyone must decide quickly if they agree with the plan.

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