Mike Lee, R-Utah, and Chuck Grassley, R-Iowa, reintroduced a balanced budget amendment to the U.S. Constitution on Thursday requiring the federal government balance their budget annually.
"We expect families, businesses, and state and local governments all to stick to their budgets and live within their means-there is no reason that the federal government should not have to follow the same set of rules," said Lee in a statement.
The goals are to establish "Long-term fiscal sustainability," according to a press release on the proposed amendment.
"Fiscal rules-such as balanced budget amendments and corresponding statutory provisions to achieve and maintain balance-are necessary to restrain the natural propensity of democracies to spend and borrow to excess," said Boccia in an email to The Daily Signal.
As Boccia points out, "The U.S. has no constitutional provision to guide fiscal decision-making. The Constitution puts Congress firmly at the center of spending, taxing, and borrowing decisions, but the founding document is silent concerning fiscal sustainability or budget balance."
"It's simple math: The federal government should not be spending more taxpayer money than it brings in," said Grassley of the amendment.
Despite how unpopular a balanced budget amendment may be with the holders of the public's pursestrings, Grassley has been promoting a balanced budget amendment for a long time.
https://www.dailysignal.com/2019/01/29/balanced-budget-amendment-proposed-as-government-reopens/
"We expect families, businesses, and state and local governments all to stick to their budgets and live within their means-there is no reason that the federal government should not have to follow the same set of rules," said Lee in a statement.
The goals are to establish "Long-term fiscal sustainability," according to a press release on the proposed amendment.
"Fiscal rules-such as balanced budget amendments and corresponding statutory provisions to achieve and maintain balance-are necessary to restrain the natural propensity of democracies to spend and borrow to excess," said Boccia in an email to The Daily Signal.
As Boccia points out, "The U.S. has no constitutional provision to guide fiscal decision-making. The Constitution puts Congress firmly at the center of spending, taxing, and borrowing decisions, but the founding document is silent concerning fiscal sustainability or budget balance."
"It's simple math: The federal government should not be spending more taxpayer money than it brings in," said Grassley of the amendment.
Despite how unpopular a balanced budget amendment may be with the holders of the public's pursestrings, Grassley has been promoting a balanced budget amendment for a long time.
https://www.dailysignal.com/2019/01/29/balanced-budget-amendment-proposed-as-government-reopens/
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