In January of 1995, a constitutional amendment that mandated a balanced budget was passed by the U.S. House of Representatives. Two months later, the balanced budget amendment was brought to the floor of the U.S. Senate where it failed by one vote. Since then, federal debt has more than tripled in size from $5.1 trillion to $16.4 trillion today. Additionally, since 2007, the debt ceiling has been increased nine times - three of which were a result of the Budget Control Act - without Congressman Forbes' support.
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