It is common sense to only spend money you have. Unfortunately, Congress has been spending more than it takes in for decades and the consequences are unsustainable. U.S. Senator Mike Enzi, R-Wyo., co-sponsored a balanced budget amendment in an effort to restore common sense fiscal sanity to the nation.
“The reality has been that there is not enough political will to balance the budget without the force of the Constitution behind it,” said Enzi.
Enzi has supported a balanced budget for his entire Senate career.
“American families will suffer, national security will be at risk and important programs such as Social Security will end in ruin if the Balanced Budget Amendment is not passed,” Enzi said in his first speech on the Senate floor on January 21, 1997.
“Unfortunately, what I said in 1997 continues to be true because a balanced budget has not been passed. But I am hopeful that this year will be different. There are more accountants, businessmen and fiscal conservatives in Congress and they understand the problem this country is in and how important it is for our grandchildren that we get our fiscal house in order,” said Enzi.
The Balanced Budget Amendment is co-sponsored by all 47 Republican senators and would amend the U.S. Constitution to require a balanced budget with the following parameters:
Require the President’s and congressional budgets limit spending to 18 percent of GDP
Require a supermajority of 2/3 of both Houses for any bill to increase tax rates or raise the debt limit