Congressman Todd Akin, Member of the House Budget Committee, supported the House Republicans' long awaited Balanced Budget Amendment as a partial step towards fiscal solvency. H.J.Res.2 would legally prohibit Federal spending levels for a fiscal year from exceeding total receipts for that fiscal year. Congressman Akin believes that an effective Balanced Budget Amendment should also include a cap on the overall size of the federal government, just as Missouri has a Balanced Budget Amendment and the Hancock Amendment.
Congressman Akin released the following statement:
"We must have a Balanced Budget Amendment set into law in order to force fiscal restraint on the federal government. Decades of reckless deficit spending has put us on a path to ruin.
"A balanced budget amendment to our Constitution is an important element in addressing our nation's structural debt crises. To work effectively, however, the balanced budget amendment should follow Missouri's example and also include a cap on the size of government. This provides protection so that the federal government will not grow too large and crush the private sector.
"Further, we are experiencing a serious debt crisis because Washington spends too much, not because Washington taxes too little. Therefore, I am committed to finding ways to eliminate waste from the federal budget that will return America to fiscal solvency.
"I voted in support of H.J.Res.2 because we in Congress must take responsibility and make the hard choices, and force fiscal restraint on the federal government. As a member of the House Budget Committee I am dedicated to fulfilling my duties as a Congressman in pursuing means that actually accomplish meaningful change to the business as usual in Washington. A Balanced Budget Amendment is a step toward returning our nation to fiscal sanity."