U.S. Congressman Paul Broun, M.D. (GA-10) today released the following statement after introducing H.J Res. 35, the Balanced Budget Amendment, which has 17 cosponsors:
"Washington's current approach of "spend more, cut nothing' is tanking our economy, killing jobs across the country, and saddling future generations with a burdensome amount of debt to repay," said Congressman Broun. "For most of our nation's history, this kind of recklessness has been considered intolerable. It used to be that deficits brought on by wars or other emergencies were only temporary in nature, and the accumulated national debt was reduced once the crises passed. We have to restore a sense of responsibility in Washington. Today, forty-nine states have balanced budget requirements, most of which are written into their constitutions. It is time that Congress abides by the same restrictions that states have placed on themselves."
Broun's amendment differs from other proposals by:
· Requiring a 2/3 majority (rather than a simple majority or 3/5 vote) to raise revenue;
· Limiting spending growth of the entire budget to no more than population growth plus inflation;
· Allowing only for waivers during actual Declarations of War;
· Forcing the next fiscal year to account for any imbalance in the previous year's estimates;
· Putting the House in control of developing the federal budget, in accordance with Constitutional
· Returning excess revenue to be returned to American taxpayers at the end of each fiscal year.