Congressman Canseco Statement on Balanced Budget Amendment Vote

FOR IMMEDIATE RELEASE
November 18th, 2011

Contact:  Valentina Weis
(202) 225-4511 or Valentina.Weis@mail.house.gov

Washington, DC – Congressman Francisco “Quico” Canseco (TX-23), a strong advocate of fiscal responsibility in the House of Representatives and cosponsor of the Balanced Budget Amendment legislation (H.J. Res. 2), issued the following statement after voting for a Balanced Budget Amendment to the U.S. Constitution:

“I am very disappointed that the Balanced Budget Amendment did not pass the House today. Even though it received a support from a bipartisan majority in the House, it didn’t receive the two-thirds support a Constitutional Amendment requires for passage. It is unfortunate that it didn’t pass, because just this week, our national debt crossed an astounding $15 trillion dollar threshold which means that now, on average, every American household’s share of our national debt is $127,899. This debt has been accumulated because Washington has spent too much, not because the American people are taxed too little. American families and small businesses live within their means each and every day; they want Washington to do the same. A Balanced Budget Amendment to the Constitution will force Washington to do that. I’m disappointed that those who want no limit on how much Washington can spend were able to prevent the Balanced Budget Amendment from passing.”

Watch this video on why I voted for the Balanced Budget Amendment

Transcript from the Video:

Today, we are taking an important step towards changing the way Washington does business.

And it couldn’t come at a more opportune time, as our national debt crossed the $15 trillion dollar threshold mark this week – which means that now, on average, every American household’s share of our national debt is $127,899.

Our nation is in the midst of a spending-driven debt crisis. We’ve run 3 successive $1 trillion dollar-plus deficits, are borrowing approximately 40 cents out of every dollar the federal government spends, and the Congressional Budget Office estimates that by the end of the decade we’ll be spending almost $1 trillion dollars JUST to pay the interest on our debt.

And, if we do nothing, the problem will only get worse. We’ll continue spending, borrowing, and accumulating more debt until one day, our children and grandchildren and their futures are drowned in a sea of red ink. Our inability to get our fiscal house in order will leave them with a downsized American Dream.

As the father of 3 children, this is something I refuse to do.

I’m the son of Mexican immigrants who came to this nation to provide their children with a better life and to live in a land where my opportunity would be limited only by how hard I work and how big I could dream.

I want to ensure that American remains a land of limitless opportunity for my children and grandchildren. I don’t want the legacy of this generation of Americans to be that we’re the first generation of Americans to pass on a smaller American Dream to future generations.

For too long, our nation has spent far beyond its means. We’ve run up the national credit card, borrowing from our children and grandchildren’s’ futures to pay for spending today.

We need to cut up the national credit card and make sure the dire situation we’ve gotten ourselves into never happens again, and a Balanced Budget Amendment will do just that.

To schedule an interview please contact Valentina Weis at (202) 225-4511 or Valentina.Weis@mail.house.gov

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