We Need a Balanced Budget Amendment to the U.S. Constitution
The fiscal crisis our country finds itself in is the result of many years of our federal government living beyond its means. Though in recent weeks we have heard much talk about cutting spending and reducing our debt, the past has taught us that the President and Congress will not make the difficult decisions necessary to get our fiscal house in order without a tough budget mechanism in place to force accountability. Washington’s borrows 40 cents of every dollar spent, and I strongly believe a critical part of kicking this reckless habit is passage of a balanced budget amendment (BBA) to the U.S. Constitution. A BBA would turn talk into action by constitutionally binding the President to request and Congress to approve a balanced federal budget each year.
We will soon force a vote on the legislation in the Senate. In recent weeks, I have advocated for a BBA as a fundamental reform required as part of any agreement to raise the debt ceiling. Click here to view a video compilation of my recent remarks on the importance of a BBA.