Republicans call for constitutional amendment to balance budget

A group of Republicans senators will introduce a constitutional amendment tomorrow requiring the federal government to keep a balanced budget.

The proposal, which many states have enacted for their own budgets, would prevent Congress from running yearly deficits.

Sens. John McCain (R-Ariz.), Lindsey Graham (R-S.C.), Jim DeMint (R-S.C.), Tom Coburn (R-Okla.) and George LeMieux (R-Fla.) will announce the legislation at a press conference Thursday morning.

The senators will also propose a one year moratorium on earmarks, which critics say unnecessarily inflate appropriations bills.