Americans should be outraged by our national debt. We need to hold the line on spending while finding responsible and innovative ways to grow our economy. The increased revenue from a thriving economy will pay down our debt.
In making the case for growth, it should still be recognized that waste must be eliminated from our federal budget and we must also find savings and efficiencies in necessary programs.
Now is also the time to put into place permanent measures that will prevent this out-of-control debt from occurring again. I support the passage of a balanced budget amendment. For example, Indiana and other states have had balanced budget amendments in their constitutions for over 150 years and the result has been a statutory commitment to fiscal restraint and planning.
This has allowed these states to adjust to a downturn in the economy without the added drag of a large debt. A national balanced budget amendment must be written in such a way that will not tie our nation's hands in the event of war or an economic crisis.
A balanced budget will not be achieved with the current dysfunction in Congress. It requires a commitment to real innovation and problem solving by both sides.