[Congressional Record (Bound Edition), Volume 163 (2017), Part 1]
[Extensions of Remarks]
[Pages 94-95]
[From the U.S. Government Publishing Office, www.gpo.gov]




THE INTRODUCTION OF A BALANCED BUDGET AMENDMENT TO THE CONSTITUTION OF 
                           THE UNITED STATES

                                  _____
                                 

                           HON. BOB GOODLATTE

                              of virginia

                    in the house of representatives

                        Tuesday, January 3, 2017

  Mr. GOODLATTE. Mr. Speaker, more than 20 years ago, the U.S. Senate 
failed by one vote to pass a balanced budget constitutional amendment. 
If Congress had sent the amendment to the states for ratification in 
1995, we would not be facing the fiscal crisis we are today and 
balancing the federal budget would be the norm rather than the 
exception. In order for Congress to consistently make the tough 
decisions necessary for fiscal responsibility, Congress must have the 
external pressure of a balanced budget requirement.
  This year marks the tenth year I have introduced amendments that 
require Congress to balance the federal budget. I urge my colleagues to 
consider the impact that reckless

[[Page 95]]

spending has on our nation's future and on future generations. 
According to a 2016 report from the Congressional Budget Office on the 
federal government's long-term budget outlook, the debt held by the 
public, assuming lawmakers abide by current law, is projected to rise 
``from 75 percent of GDP in 2016 to 141 percent by 2046.'' The effect 
of this debt and our nation's current spending, according to CBO, will 
harm economic growth and will increase the risk of a fiscal crisis down 
the road. We should not pass on to our children and grandchildren the 
bleak fiscal future that our unsustainable spending is creating.
  In the Federalist, Number 14, James Madison reminds us that the 
American people relied on ``their own good sense, the knowledge of 
their own situation, and the lessons of their own experience'' in 
addressing the problems of our constitutional government. With this in 
mind, it is time for Congress to put an end to fiscal irresponsibility 
and stop saddling future generations with crushing debts to pay for our 
current spending. We must rise above partisanship and join together to 
send a balanced budget amendment to the states for ratification.
  The proposed amendment is a four-part balanced budget amendment. It 
contains a requirement for a balanced annual federal budget, places a 
spending cap on annual federal spending, imposes a three-fifths 
supermajority vote requirement to increase the debt limit, and a three-
fifths supermajority requirement to raise taxes.

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