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Issue Position: Balanced Budget Amendment

Issue Position

Location: Unknown

Government spending is too high based upon its revenues. Congress has shown its inability to manage money. Why should you care? Because it's your money. Because when your money runs out the government borrows more...up to 40% of every dollar spent. There is no end to the borrowing in sight. And the people that are responsible for borrowing that money are leaving you with the responsibility for paying it off, or paying out billions in interest payments. I'm sure you've heard of the special committee for deficit reduction and other attempts to "cut spending", but you should know that no spending would be cut by these efforts. The only thing affected is the rate of spending increase. Spending still goes up and borrowing continues. I believe a constitutional amendment requiring a balanced budget is necessary while also setting a cap on the percentage of the Gross Domestic Product (GDP) that government can receive. Right now the government receives just about 25% of GDP. A constitutional amendment without a spending cap based on GDP (or vice versa) would be counterproductive. If you required a balanced budget without setting a cap, Congress could just increase taxes until the budget was balanced. Also, if you only set a percentage of GDP the government could receive in revenue without a balanced budget requirement, we'd be in the same predicament we are today.

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