Congresswoman Michele Bachmann (MN-06) released the following statement after voting today for House Joint Resolution 2, the Balanced Budget Amendment (BBA):
"I was proud to vote yes on H. J. Res 2, the Balanced Budget Amendment. With America now $15 trillion dollars in debt, our nation is in desperate need of a permanent solution, not another temporary spending pledge. This amendment would have put an end to out-of-control government spending by holding both the President and Congress accountable for creating and maintaining a balanced budget for our nation.
"Our government's reckless spending is slowly killing any possibility of an economic recovery for our nation and piling debt onto the next generation of Americans. This is simply not acceptable. I am convinced a Balanced Budget Amendment could have provided a first step toward fiscal responsibility."
The BBA included provisions requiring the President to submit a balanced budget to Congress and the approval of a supermajority of Congress prior to any expenditures exceeding congressional revenues. A supermajority vote of Congress would have also been required to raise the debt ceiling. The amendment, which previously passed the House in 1995 with 300 bipartisan votes, failed the House today with a 261-165 vote, as the BBA required a 2/3 majority to pass.