Today, U.S. Congressman Billy Long fought for common sense and the American taxpayer by voting in favor of H.J. Res 2, a balanced budget amendment, in the U.S. House of Representatives. The amendment would have modified the U.S. Constitution so that the U.S. Congress and the President couldn't spend more than is received in revenue. Unfortunately, House Democrats voted against and defeated the proposed legislation.
"I am disappointed in my Democratic colleagues for not supporting a bill that would finally get our fiscal house in order, said Long. "I couldn't believe my ears when the Democratic leadership said "we don't need a balanced budget amendment, we just need to balance the budget' on the House floor."
"For the first 140 years of our country, the federal government operated under an unwritten rule that, except during war, we should have a balanced budget. The federal government spends 42% more than it takes in. Either we stop spending money we don't have or we condemn our children to a future of bankruptcy."
The Balanced Budget Amendment would have required the President to submit a balanced budget to Congress. Congress wouldn't have been unable to spend more than it receives in revenue. The amendment could only have been overridden during a time or war or with a 3/5th supermajority vote of Congress.
"Washington has shown it cannot be responsible with a blank check," said Long. "After the sobering announcement by the U.S. Treasury that the U.S. debt is over $15 trillion dollars, more than the entire GDP of our entire economy, now, more than ever, is the time for a balanced budget amendment."
Polls show that 95% of American's believe the deficit is a problem and that 74% of Americans are in favor of a balanced budget amendment. 49 states have a form of balanced budget requirement.
Long made reducing federal spending one of his top priories in Congress and was a cosponsor of the balanced budget amendment.