President Obama, in his first year in office, ran a $1 trillion deficit for the first time in American history and has said he foresees $1 trillion deficits 'for years to come.' Congressman Trent Franks (AZ-02) counters the President's ridiculous foresight:
"Our debt is now over $14 trillion and is slated to reach roughly $23 trillion in less than a decade.
"If Washington does not immediately reign in its negligent spending habits, America and future generations will pay a crushing price. The Balanced Budget Amendment proposal passed by the Judiciary Committee today is a historic step toward a Constitutional requirement to balance the federal budget, and help America to remain a prosperous bastion of freedom for another 236 years."