Joe Smith: A Balance Budget

When it comes to the federal government, few things frustrate the American people like the out-of-control Congressional spending that have continued for decades. Our families recognize that we must make enough money to cover our expenses and when times get tough, we must make tough decisions. But unfortunately, Congress has failed to recognize these common-sense values.

Unlike 49 out of the 50 states, the federal government is not currently required to pass a balanced budget. Because of this, Congress has, for too long, neglected to make the tough decisions necessary to balance the budget. The federal government continues to spend money that it does not have and these reckless habits continue to threaten the long-term economic and fiscal stability of our nation’s future.

Currently, our federal government has racked up an estimated 100 trillion dollars in unfunded liabilities that our nation’s children and grandchildren will be left to pay. Still, it appears Congress does not intend to work to repair this damage. In fact, just this week, President Obama submitted his budget recommendations to Congress which included 3.8 trillion dollars in spending; 1.6 trillion of which we cannot afford and will be piled on top of the more than 12 trillion dollars of national debt that we already have.

We, in the Missouri House, recognize the danger of continually passing unbalanced budgets and adding trillions of dollars each year to our national debt. That is why, this week, we passed House Concurrent Resolution 34 & 35 which urges the United States Congress to submit a balanced budget amendment to the states. Should Congress pass the proposed amendment, it would need the ratification of three-fourths of the states to become an amendment to the United States Constitution.

Requiring the federal government to balance its budget each year is long overdue. For decades, efforts to pass a balanced budget have come up short. I believe that to ensure a fiscally stable future, our federal government must begin to live within its means. In light of the recent increase in deficit spending and the growing national debt, we must act now.