BLUE DOGS, CUELLAR CALL FOR BALANCED BUDGET
Written by Post Public Information Representative, Mar 2, 2010, 0 Comments
Fiscally-Conservative Dems Call for Balanced Budget by 2020 to Reduce National Deficit
Courtesy Ashley Patterson,
Washington, DC – Congressman Henry Cuellar (TX-28) today joined his colleagues in the fiscally-conservative Blue Dog Coalition to introduce legislation that would require the federal government to pay down the national debt and balance the nation’s budget by 2020. The Blue Dog “Balanced Budget Amendment” is a key component of the Blue Dog Blueprint for Fiscal Reform, a comprehensive plan to immediately begin reducing the deficit by adhering to sound fiscal policies now and in the future.
“American families are balancing their budgets, it’s time for Washington to follow suit,” said Congressman Cuellar. “This common sense policy is an essential part of a broader plan to reduce the nation’s deficit with responsible spending. Balancing the budget is an effective step towards long-term fiscal sustainability.”
The Blue Dog “Balanced Budget Amendment” would require Congress to produce a balanced budget every fiscal year and require the President to submit a balanced budget in his or her annual transmission to Congress. Specifically, the plan would prohibit spending for a fiscal year from exceeding total revenue for that year unless Congress, by a three-fifths roll call vote of the House and Senate, authorizes the specific excesses.
“The nation’s budget situation is fiscally unsustainable,” said Congressman Cuellar. “At a time when Americans are growing increasingly concerned over mounting debt, this gets the country’s budget back on track and will help restore global faith in our domestic economy.”
The balanced budget measure, sponsored by Congressman Cuellar, also calls for a constitutional amendment requiring the federal government to balance the budget by the next decade. History shows that balancing the budget is an attainable goal. From 1998-2001, the U.S. achieved balanced budgets by adhering to Pay-As-You-Go (PAYGO) spending rules in Congress and enacting limits on discretionary spending. Forty-nine states currently require an annual balanced budget, including Texas.
