Sunday, April 29, marked the third full year since the last time Senate Democrats have brought a budget to the floor of the Senate. This "anniversary" is unprecedented in the history of American politics. Since that time, the federal government has spent $10.4 trillion, accumulated $4.5 trillion in new gross debt and acquired $626 billion in net interest payments on the debt itself.
The Congressional Budget Act of 1974 requires that Congress approve a budget resolution by April 15 of each year. Contrary to popular belief, only 51 votes are needed in the Senate to pass a budget, rather than two-thirds. As a member of the Senate Budget Committee, I have advocated for the markup of an honest budget; a budget proposal without gimmicks and with real reforms, one based on less spending, less borrowing and more economic growth.
Recently, the Senate majority cancelled a scheduled Budget Committee markup at the last minute, preventing what would have been the first votes on a budget resolution in more than two consecutive years. Every American is impacted as much by our mounting national debt as the day-to-day issues they face. No country has ever sustained the rate of borrowing we are currently engaged in, and real steps must be taken to address it, starting with a responsible, honest budget.