Ms. ROS-LEHTINEN. Mr. Speaker, our nation's budget is out of control. Two years ago, our nation experienced our first trillion dollar Federal budget deficit. Last year, we experienced our second trillion dollar deficit.
This year, our annual deficit is projected to reach over $1.6 trillion--the largest in history. We are spending more than we can afford and in the process saddling future generations with a grim economic future. This is unacceptable.
It is also why my colleagues and I are here this evening. As women, we know the importance of creating and sticking to a budget.
The finances of many households are run by women.
We know that a family cannot wildly spend beyond its means. And yet this is what our government is doing on a daily basis.
Our government has acted recklessly with our financial security and prosperity. Just as our families and neighbors have had to tighten our belts during this recession, the Federal government must do the same.
Women have to juggle various household necessities while still remaining within their budget constraints. This is why Republican women support a constitutional amendment requiring a balanced budget to help reign in Federal spending.
It will help us start to get our fiscal house in order. A constitutional amendment will help ensure the future stability and solvency of our economy. Our grandchildren deserve nothing less.