GOP seeks to force Obama to estimate date for balanced budget

House Republicans are expected to vote next week on a bill that would force President Obama to estimate when the federal budget will be balanced.

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The GOP will consider the Require Presidential Leadership and No Deficit Act, or the Require a PLAN Act, as early as Tuesday. Under the bill, from Rep. Tom Price (R-Ga.), if Obama submits a 2014 budget that does not foresee a balanced budget, he would have to submit a second budget that estimates when the budget deficit will be eliminated.

This second budget would also have to describe the policies needed to achieve a balanced budget.

The bill makes a series of findings that note the Obama administration is failing to live up to its promise to cut the deficit, and that it has no estimate of when the budget might come back into balance.

"Despite a promise to cut the deficit in half, the deficit doubled during the president's first year in office and has exceeded $1 trillion for four years now," the bill reads. "The president's fiscal year 2013 budget submission includes the admission that under his own policies the Federal government's 'fiscal position gradually deteriorates.' "

The House Rules Committee has set a meeting for late Monday to approve a rule for the bill, which will let the House consider the bill as early as Tuesday.