JOURNAL ARTICLE

The U.S. just hit $39 trillion in debt. Here's the constitutional fix that Congress won't touch.

  • Published In: Fortune.com, 2026. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Hanke, Steve H.; Walker, David M. 3 of 3

Abstract

The article focuses on the U.S. House of Representatives' failure to pass a Balanced Budget Amendment (H.J. Res. 139) on March 18, which aimed to limit federal spending based on a modified version of Switzerland’s Debt Brake constitutional amendment. Despite rising federal debt surpassing $39 trillion and projections of worsening fiscal imbalance, Congress has not acted to enforce fiscal discipline. The article highlights the constitutional mechanism under Article V that allows states to call a convention to propose amendments if two-thirds apply, noting that the required number of state applications for a fiscal responsibility amendment has existed since 1979 but remains unaddressed by Congress. It urges state officials to assert their constitutional rights to initiate this process to address the nation’s growing fiscal challenges. [Extracted from the article]

Additional Information

  • Source:Fortune.com. 2026/03, pN.PAG
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2026
  • Accession Number:192436372
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