Our nation’s debt is now over $19 trillion, up from $10.6 trillion when President Obama first took office. I believe that as long as the federal government continues to spend beyond its means, our nation’s economy will continue to suffer and remain stagnant. There is absolutely no excuse for continuing to add to our nation’s outstanding financial obligations that will only fall on the backs of future generations – our children and grandchildren.
I have long believed that one of the few shortfalls of our Constitution was the omission of a federal balanced budget requirement. For this reason, I am proud to have introduced legislation in every Congress since joining the Senate that seeks to amend the U.S. Constitution to require a balanced federal budget.
The adoption of a Balanced Budget Amendment to the U.S. Constitution would require the federal government to do what every American already has to do – balance its checkbook. I believe that a Balanced Budget Amendment is the tool that the American people deserve to guarantee greater fiscal responsibility from Washington and to ensure that the government spends Americans’ hard-earned tax dollars responsibly. To me, this is a common sense policy that would reduce wasteful spending and restore sorely needed confidence in our nation’s economy.