Today U.S. Rep. Jack Kingston (R-GA) announced that he is joining the bipartisan Balanced Budget Amendment Caucus to fight the culture of overspending in Washington and restore fiscal sanity to the federal government.
"A balanced budget amendment is desperately needed and long over due so Congress and the President are held accountable to the taxpayer," said Kingston. "Millions of Americans do it every month at home and 49 states already balance their budgets every year. It is crucial the federal government do the same."
The Balanced Budget Amendment Caucus was founded last year to raise awareness about the necessity and importance of amending the Constitution to require a balanced budget, and to educate other Members on this subject. Caucus membership grew this year to over 60 members. Congressman Kingston has been one of the strongest advocates in Washington of a balanced budget amendment for years, voting in favor of legislation that supports a balanced budget 11 times as well as co-sponsoring 3 different bills for such an amendment.
"We have a $14.2 trillion national debt, and a current year deficit estimated to be $1.5 trillion. Our nation is headed toward complete financial meltdown and the only solution is to hold Congress' feet to the fire with a Constitutional Amendment and require that they, like every family and nearly every state in the country, balance their budget," Caucus Chairman and founder Rep. Mike Coffman (R-CO) said. "It's encouraging that more and more of my colleagues in Congress recognize the threat of Washington's reckless, out-of-control spending. I welcome their support in the ongoing effort to get our fiscal house in order. We need to make a Balanced Budget amendment a reality."
The Congressional Budget Office, the non-partisan citizen watchdog, released a report that reveals the Obama Administration's budget for next year is even worse than we thought.
It found that the budget would increase the national debt by $9.5 trillion - a $2.3 trillion increase from the Administration's estimates. If enacted the CBO reports President Obama's plan would make debt 87% of gross domestic product by 2021.
The Balance Budget Amendment Caucus is a bipartisan group of Members of Congress dedicated to developing and championing a measure that would mandate a balanced federal budget.