U.S. Congressman John Barrow (GA-12) today renewed calls for Congress to pass a Balanced Budget Amendment (BBA) to the U.S. Constitution following the release of the Congressional Budget Office's (CBO) long-term budget outlook. Congressman Barrow is a co-sponsor of two BBA's, including the bi-partisan BBA, H.J. Res 2, which the U.S. House of Representatives voted on last year.
"We can't ignore the fiscal problems facing this country any more," said Congressman Barrow. "If we're going to protect programs like Social Security and Medicare, and not leave our children saddled with debt, we've got to get federal spending under control. This isn't an issue we can ignore. Folks expect us to make responsible spending cuts to reduce our deficit, and the time to do it is right now."
According to the CBO, unless Congress acts to bring the budget into balance, the U.S. debt will be twice the size of the U.S. economy by 2037. The BBA that Congressman Barrow supports:
Prohibits spending for each fiscal year that is in excess of revenue the federal government receives;
Directs the President to submit a balanced budget to Congress annually; and
Prohibits any bill to increase revenue from becoming law unless it is approved by a majority of the House and Senate by a roll call vote.