Chattanoogan.com - A Missed Opportunity to End Our Spending Addiction

Statement

By Unknown

In 1982, President Ronald Reagan stated, "Only a constitutional amendment will do the job. We've tried the carrot, and it failed. With the stick of a Balanced Budget Amendment, we can stop government squandering, overtaxing ways, and save our economy."

On Friday, November 18th, the United States House of Representatives voted on a monumental piece of legislation that would have sent a Balanced Budget Amendment to our nation's Constitution to the states for ratification. Unfortunately, this legislation fell short of the two-thirds majority needed for passage with a vote of 261-165.

This vote marked the second time in our nation's history that a Balanced Budget Amendment (BBA) was voted on in the U.S. House. The first instance occurred in 1995 when the House passed this exact same bill with 300 bipartisan votes, only to have it fail in the Senate by a single vote.

This Balanced Budget Amendment would have required that:

· Congress not spend more than it receives in revenues unless a supermajority of 3/5 of both chambers votes to provide otherwise;

· a corresponding 3/5 vote to raise the debt ceiling;

· the president to submit a balanced-budget to Congress; and

· a majority roll call vote for any proposed bill to increase taxes.

There can be no denying that our nation is on an unsustainable spending path that will ultimately lead to the bankruptcy of America. Our national debt is currently at $15 trillion -- 34% of which was accumulated under President Obama­ -- and increasing every day. In fact, our debt is growing so rapidly that the Congressional Budget Office projects that in the next 70 years, the money spent on paying the interest from our debt alone will grow to almost 41.4% of our country's entire gross domestic product. Clearly, something must be done to reverse this course.

Since 1960, the annual federal budget has been balanced just six times, allowing our national debt to climb from $300 billion to $15 trillion. As we have seen, the spending cuts and caps passed by one Congress have often been overturned by the next. A Balanced Budget Amendment would have forced the federal government to finally live within its means not just today, but for generations to come.

This is not a radical idea. Recent polls show that 74% of Americans are in favor of a Balanced Budget Amendment. Further, 49 states abide by some form of a balanced budget requirement -- including Tennessee. With that level of overwhelming support, it amazes me that many of Members of Congress voted against this bill and claim they are putting the American people before political interests. I hope that voters will take a long, hard look at the Congressman that refused to support this commonsense measure and hold them accountable.

After casting 859 votes in the United States House of Representatives, I can honestly say that the failure of this bill hurts the most. I've never walked off the House Floor with such a heavy heart. We had a chance to make history. Instead, many of my fellow Members of Congress chose to let politics guide their decision making process.

Every day, I talk with families, small business owners and local elected officials who understand how to set a budget and live within its means. It is time for the federal government to do the same. I will continue to fight for a Balanced Budget Amendment to our Constitution because it is the right thing to do for our children and grandchildren.

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