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Public Statements

Proposing a Balanced Budget Amendment to the Constitution

Floor Speech

By:
Date:
Location: Washington, DC

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Mr. MARCHANT. Mr. Speaker, today the House is scheduled to consider House Joint Resolution No. 2. This bill proposes a balanced budget amendment to the Constitution. I am very proud to be a cosponsor of this legislation. The national debt just climbed above $15 trillion. We know that Washington should not spend more than it takes in. We know this, but we continue to rack up massive yearly deficits. We need a balanced budget amendment now more than ever.

Before being elected to Congress, I served as a city councilman for 4 years, as a mayor for 2 years, and as a state representative for 18 years. During my entire twenty-four years of combined state and local government service, by law I was always required to have a balanced budget. We should mandate the same requirement for the federal government that most state and local governments have to produce a balanced budget.

Earlier this year, the Texas Legislature called on Congress to propose and submit to the states a balanced budget amendment. I am pleased that the House is taking the first step to fulfill this request made by Texas and other states. I look forward to continuing the fight for its passage and ratification. Our fiscal problems are not getting any easier. We cannot simply continue to kick the can down the road. The longer that we wait only makes our fiscal problems that much more difficult to solve.

We must act now before we further ruin the economic futures of our children and grandchildren. We cannot ignore our fiscal situation any longer. The Federal Government must balance its budget. A balanced budget amendment is the ultimate solution to our current lack of fiscal discipline.

I strongly urge my colleagues to join me in voting in favor of this bipartisan resolution.

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