Saturday, 16 October 2010
Forbes - Cosponsor of H.J.RES.1, a Balanced Budget Amendment
Thomas Jefferson on the Debt
Our Founding Fathers knew that overwhelming national debt would undermine the ability of our nation to act in our own interest. Today, our national debt levels are impacting us here at home and they are impacting us globally. We need a mechanism in place to force Congress to enact fiscally responsible spending measures and rein in out-of-control debt.
I am a cosponsor of H.J.RES.1, a Balanced Budget Amendment, which will force Congress to enact fiscally responsible spending measures, reduce the deficit, and ensure that the money our citizens work so hard to earn is not spent on wasteful spending and programs. The bill requires that Congress not spend more than it receives in revenues, requires the President to submit a balanced budget to Congress, and requires a 3/5 majority vote to increase the debt limit.
A Constitutional amendment will force Congress to eliminate unnecessary and wasteful spending and make the decisions necessary to balance the budget and eliminate the federal deficit.
Posted by Jonathan E. Varnell