September 30th marked the end of the federal fiscal year. It also marks the third year in a row that our government has overspent a trillion dollars more than we had available. Racking up additional debt at the expense of hardworking taxpayers has to stop. Already every man, woman and child in our nation owes $46,000 towards the outstanding $14.3 trillion federal debt. This is one of the reasons I voted against further increasing our national debt.
I voted no because, Americans have had enough of failed tax and spend policies. It is time that real steps are taken to rein in this out of control spending, including passing a responsible budget as well as a Balanced Budget Amendment to our Constitution.
One thing is clear when it comes to our budget problems – we are not in this mess because of a shortage of tax revenue. Our government now spends about 30% more than we are able to pay for. With unemployment in Ohio above 9%, we cannot afford another stimulus. By putting a halt to the spending binge, we will be able to deliver a more efficient, effective government. One which spends less and serves the taxpayer better.
The budget I voted in favor of this year is one of many starting points for a real conversation about the road ahead for reforming our nation’s finances and growing the economy. We can no longer continue to take the easy road and just trim our budget at the corners. We must take real steps to find efficiencies in overall spending in order to end the trillion dollar deficits of the past, lower tax rates to empower small business owners, and reform our entitlement programs while still preserving them for future generations.
Also, a Balanced Budget Amendment added to our Constitution would require that the President submit a budget to Congress which doesn’t spend more than we take in each year – except in time of war or national emergency. It’s a basic approach which the majority of American families adhere to. If you don’t have the money – you shouldn’t be spending it.
With an ever growing mountain of debt, it’s clear why our country needs a Balanced Budget Amendment. We cannot afford to continue spending at this rate. The Federal Government spends over $10 billion a day; we must change the course we’re on. A Constitutional requirement to balance the budget placed in the framework of our government is part of the solution to the stop the endless spending in Washington.
The time has come to put America’s hardworking taxpayers back in charge of their finances so that we can grow the economy and create jobs. The House has already passed both a reasonable budget and a Balanced Budget Amendment this year. Meanwhile, the Senate has failed to even propose a budget, and has rejected plans to balance the budget. The partisan gridlock must end if we are going to begin to dig ourselves out of the budget hole Washington has dug for us. I look forward to the Senate working with the House in passing a budget and beginning to pay down the ever increasing debt. We cannot continue to delay on this matter as interest on the debt adds up, and our government continues to spend more than it has available.