The House of Representatives voted on the Balanced Budget Amendment to the United States Constitution today. As part of the debt limit deal that was approved this summer, the House and Senate were required to vote on a Balanced Budget Amendment before the end of the year.
Congressman David Rivera (FL-25), who voted in favor of the Balanced Budget Amendment, released the following statement after the House voted on the bill:
"This week the national debt reached $15 trillion. That number seems inconceivable. It took from the Administration of the first President of the United States, George Washington, until the Administration of the 40th President of the United States, Ronald Reagan, to amass $1 trillion in national debt. Today, our deficits are at more than $1 trillion annually.
"I voted for the Balanced Budget Amendment because I know that our nation's economy cannot sustain that kind of spending. Job creators are hesitant to grow their companies and to invest in new employees or projects out of a concern for what new regulations, taxes and fees will be handed down to them next to cover the federal government's latest multitrillion spending package. That kind of fiscal irresponsibility must end.
"A Balanced Budget Amendment would have been the first step toward implementing long-term solutions to our country's spending addiction. 49 states currently abide by some kind of balanced budget requirement. The Balanced Budget Amendment fell one vote short of passage in the United States Senate 15 years ago and our national debt has nearly tripled in size since then.
"I am disappointed that so many of our Democrat colleagues in the House let history repeat itself by choosing to vote against the Balanced Budget Amendment instead of doing their part to restore fiscal responsibility to Washington that would help create jobs and put our nation's economy back on track."