Gibbs Calls on Colleagues to Pass Balanced Budget Amendment
WASHINGTON, D.C. – Congressman Bob Gibbs (R-OH), a member of the Balanced Budget Caucus, spoke on the House floor this morning and called on his Democratic and Republican colleagues in the House of Representatives to approve H.J. Res. 2: The Balanced Budget Amendment. The adoption of H.J. Res. 2 would help ensure such spending restraints are set in stone by legally binding both the president and Congress to produce annual budgets that spend no more than the government takes in.
“Mr. Speaker, as a member of the Balanced Budget Caucus, I rise in strong support of the Balanced Budget Amendment we are taking up on the House floor today.
“I have heard from many of my colleagues on the other side of the aisle ‘this is not the time to take this up.’ But now it is exactly what we should be taking this up.
“In 1995, a Balanced Budget Amendment passed the House with bipartisan support, only to lose by one vote in the U.S. Senate. Then, the national debt was $4.8 trillion dollars. This week, the national debt hit $15 trillion dollars.
“We have added $10 trillion dollars to our debt in 16 years.
“That is $10 trillion in debt that threatens our job growth, our national security and our sovereignty, and our nation’s children. And that is $10 trillion in debt that could have been avoided had the balanced budget amendment passed.
“We simply must stop spending money we don’t have if we are going to give our economy a chance to grow and create jobs.
“Past attempts like Graham-Rudman-Hollings, the Budget Enforcement Act, and Pay-As-You-Go requirements have failed to bring federal spending under control.
“America needs a permanent, long-term solution. We must hold Congress’ feet to the fire and pass a balanced budget Constitutional amendment today.
“I thank the gentleman and I yield back my time.”