Federal Balanced Budget Amendment (TCC)
Because federal spending is unsustainable, potentially ruining the country’s long-term fiscal stability and weakening our economy, the time has come to amend the U.S. Constitution to require a balanced federal budget.
In 1989, federal outlays totaled $1.1 trillion; in 2008, not even twenty years later, federal outlays nearly tripled to $2.97 trillion. Just this month (January 2010), the Congressional Budget Office (CBO) projected "that if current laws and policies remained unchanged, the federal budget would show a deficit of $1.3 trillion for fiscal year 2010." The CBO also projected that the "budget picture remains daunting beyond this year, with deficits averaging about $600 billion annually from 2011 through 2020."
As of January 20, 2010, the United States national debt stands in excess of $12.3 trillion, which is rapidly approaching the newly-raised debt limit of $12.39 trillion. Now, less than one month after the last increase in the debt limit, the United States Senate is currently considering another increase to $14.29 trillion.
President Barack Obama, Senate Majority Leader Harry Reid, and Speaker of the House Nancy Pelosi will continue with their out of control spending until the Constitution clearly and directly mandates a balanced budget.
This unprecedented spending has serious consequences. At some point, a future generation of Americans will be forced to pay the bill for Congress’ reckless spending today. When that time comes, what will tax rates be? How much liberty will we have lost?
It is time to renew the call for a federal balanced budget amendment, and we the undersigned support our conservative state leaders who are fighting for a balanced budget amendment to the U.S. Constitution. We will not stand idly by as the Administration and Congressional majority bankrupt America in the reckless pursuit of a radical agenda.
Please join the members of the Texas Conservative Coalition in their support for a balanced budget amendment to the United States Constitution.
Read the Texas Conservative Coalition letter to Governor Rick Perry.