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Herrera Beutler Cosponsors a Balanced Budget Amendment
Growing Debt Hurting Americans Now, Threatening America’s Future
Today Congresswoman Jaime Herrera Beutler (R-WA) announced that she has cosponsored a U.S. Constitutional Amendment that would require the federal government to balance its budget every year.
The measure would require that Congress not spend more than it receives in revenues each year. Congress has long been able to spend in the deficit, but has sharply increased its overspending in recent years. In each of the last two years, Congress has run $1 trillion deficits. Despite increased borrowing to pay its bills, the federal government continues adding to the debt; last year the President signed into law a health care overhaul that is alone estimated to cost taxpayers as much as $2.6 trillion. Fueling the debt growth is America’s borrowing habit. Currently the federal government borrows 40 cents of every dollar it spends from creditors like China.
“If Congress doesn’t stop the overspending, America will cease to be the ‘land of opportunity’ we all know,” said Herrera Beutler. “I am supporting this strong measure because our current national debt is crippling businesses, hurting families and stifling the growth of new jobs.
“Despite the stark reality of our financial situation, I am hopeful that we can change course. Both Republicans and Democrats share the blame for getting us to this point, but now it’s time to force a fiscally responsible budgeting process. I will continue to push this measure with determined focus, in hopes that we can maintain the ‘land of opportunity’ for our children.”
The Balanced Budget Amendment was introduced by Congressman Bob Goodlatte (R-VA) and currently has 160 Republican and Democrat cosponsors. It requires the President to submit a balanced budget to Congress, and also provides an exception in times of national emergencies.