A Better America for Future Generations

Washington, Sep 27, 2011 -

A Better America for Future Generations

Growing up, my parents spoke of America as the land of opportunity. Families in their generation made many sacrifices. They believed in an America where hard work and determination meant you could achieve anything. My parent’s vision of this great nation led me to run for office, to safeguard those same principles, and I now proudly serve the 23rd district of Texas. Yet, today, when I look at my three children I worry about the America we are leaving to them. I look at our debt and our record unemployment and I am concerned about an America of lesser opportunity. Now more than ever, we need a Balanced Budget Amendment so we can leave a better America for future generations.

Fixing that future can no longer be left to future Congresses and future Presidents. America has a historic spending problem. Every day, the federal government spends more money than it brings in. We are shamefully burdening future generations with today’s out-of-control spending. The Balanced Budget Amendment presents a solution to our spending problem by forcing the government to live within its means. Today, as families are tightening their belts it is time Washington does the same.

In 1995 when the federal debt hit the then unthinkable amount of $4.9 trillion, Congress voted on a Balanced Budget Amendment. That vote passed the House of Representatives thanks to overwhelming support from Democrats and Republicans, but it failed in the Senate by a mere 1 vote. Since that failed vote in the Senate 15 years ago, the unimaginable $4.9 trillion debt has skyrocketed to $14.3 trillion. There is no question our debt is one of the principle underlying causes of our historic, long-term unemployment and the worst economy this nation has seen since the Great Depression. We can no longer afford to keep blithely spending without consequence. It is time to balance the books and pass a Balanced Budget Amendment.

Some say the alternative of raising taxes is the solution, but I say they are wrong. We don’t have a revenue problem, we have a spending problem. Raising taxes on hardworking American families and small businesses to pay for more spending will not help us leave a better America for future generations. The United States currently spends $1.58 trillion more than it brings in every year. To fund our out-of-control spending, we are making up the difference by borrowing nearly 40 cents out of every dollar spent. This leaves every child born today with a debt of more than $46,000. Admiral Mike Mullen, Chairman of the Joint Chiefs of Staff, once said that our historically high debt is “the single biggest threat to our national security.” If we don’t act now to pass a Balanced Budget Amendment, we will be leaving an indebted America for future generations.

A Balanced Budget Amendment to the U.S. Constitution will legally bind Congress to spending only what it brings in, just as American families do every day. This amendment is already widely supported by 65% of Americans in a recent poll and 49 states currently abide by some form of a balanced budget requirement. A balanced budget would instill confidence in the private sector that will lead to expansions and job growth, as well as help keep America competitive in the global economy. There is too much waste and too much government choking off innovation and job growth.

Passing the Balanced Budget Amendment is an important and necessary first step to get our economy back on a fiscally responsible path and send Washington a message – We want to leave a Better America for our children and grandchildren.