Vern Buchanan Calls Again for Balanced Budget Amendment
The National Commission on Fiscal Responsibility and Reform, chaired by former White House Chief of Staff Erskine Bowles and former U.S. Sen. Alan Simpson of Wyoming, issued a report on Wednesday on the national debt federal spending.
Florida Republican U.S. Rep. Vern Buchanan said he would read the report but insisted that the best way to get Americas financial house in order was by passing a balanced budget amendment to the Constitution.
As our national debt approaches $14 trillion, we need to change the way we do business in Washington and work in a bipartisan manner to reduce spending, said Buchanan. Failure to do so will lead to higher interest rates, inflation and a less competitive economy.
I look forward to reviewing the commissions report, but I believe the first step to control spending is to pass a balanced budget amendment to the Constitution, continued Buchanan. Congress has balanced the budget just five times in the past 50 years.That is why the first bill I introduced was the Buchanan Balanced Budget Amendment.
A balanced budget amendment is a common-sense measure that would force Congress to make the tough choices necessary to spend wisely, save taxpayer dollars and help ensure the financial security of our children and our grandchildren, noted Buchanan.
However, the report is getting praise from the leader of a prominent think tank in the Beltway.
This is a credible, responsible and comprehensive plan for addressing the nations growing debt burden, which will reach unsustainable levels if no action is taken, said Robert Bixby, executive director of the Concord Coalition. It cuts through partisan rhetoric and confronts the hard trade-offs that must be made between spending, taxes and debt.
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