Wednesday, March 24, 2010

Now is the time to Push a Federal Balanced Budget Admendment

Its time to stop this fiscal freight train

With the healthcare saga coming to a head, except for staunch critics of the legislation, now is the time for congress, namely democrats to finally push a federal balnaced budget admendment, which will require, through law, that Congress pass a federal budget that balances projected revenues and expenditures, with certain exceptions (notably, a time of war).

The growing national debt, lead by decades of deficit spending by Congress, is the main reason I say its time for a Constitutional Amendment, which would require a balanced federal budget.

Congress is spending not budgeted, as a result is being added to the national debt. The reason they are spending money they dont have is (1) they won't cut spending (2) they are afraid to raise revenue (Taxes) to pay for it. Another way for them to deal with it is to pass it off to our local governments to deal with it & you know that's a non-starter right there.

Money going down the drain

Even if Congress were to pass a balanced budget, the problems would not be over. If later in the fiscal year expenditures turn out to be greater than expected (perhaps because a recession increases claims on unemployment insurance for example),the House or Senate may fail to agree on a resolution to exceed the spending limit, or a majority may fail to approve a change in the budget to accommodate the increase. In that situation, all members of Congress might be PUT ON A GOOD SHOW OF FAITH, and yet Congress would have failed to carry out its constitutional command under the amendment.

A balnced budget admendment is the ONLY cure I see that would fix a congress unwilling to reign in its out of control spending. Our national debt is harmimg our national independence. We own foreign countires trillions & trillions of dollars.

For years now we’ve heard folks in congress talk about putting this debt on our grandkids. Forget the talk & do something about it now! It's not just democrats who are doing the spending, let's not forget the republicans not too long ago was in power & they just like the democrats now didn't give a DAMN! about the fiscal state of the U.S. There is alot of blame to go around. Now is not the time to point fingers, its time to stop this fiscal freight train before it runs off the tracks.

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