In an effort to prevent the out of control spending by Republicans that created the current deficit dilemma, U.S. Rep. Ron Kind, a long time fiscal hawk, today supported the Balanced Budget Amendment, which would amend the Constitution to require a majority vote in each house to pass any legislation that increases spending.
"We must get our fiscal house in order, we owe it to future generations," said Rep. Kind. "And if my colleagues on the other side of the aisle are unwilling to reinstate Pay-As-You-Go Budgeting, which I fully supported and which led to four years of budget surpluses in the 90s, the next best check we can place on fiscal mismanagement is the Balanced Budget Amendment. Congress needs rules to instill greater fiscal discipline in the decisions that we're making."
The Balanced Budget Amendment to the Constitution (H.J. Res. 2) would prevent deficit spending without Congressional approval. The amendment would:
* Require a 3/5 vote in each house of Congress to spend in excess of receipts in any fiscal year;
* Require a 3/5 vote in each house of Congress to raise the debt limit;
* Require the President to submit a budget prior to each fiscal year where expenses do not exceed receipts;
* Require a majority vote in each house to pass any legislation that increases revenue;
* Allow Congress to waive the provisions of the amendment for any fiscal year in which a declaration of war or military conflict is in effect
"President Bush and the Republican majority eliminated Pay-As-You-Go Budgeting which led to years of fiscal recklessness. It enabled two wars, two huge tax cuts benefiting the wealthy, and the largest expansion of entitlement spending since Medicare was created in 1965 with a new prescription drug bill - all of which was unpaid for -- and all which helped double our national debt in eight short years. We cannot afford this kind of reckless spending. And we cannot wait; we must take a strategic, bipartisan approach to balancing the budget and make the tough decisions to find a long-term solution for the sake of economic growth and job creation now but for future generations especially."