Sen. Cornyn: Gov. Perry Right To Prioritize Balanced Budget Amendment
by John Cornyn on January 20, 2011 at 6:11 PM
Today, I issued the following statement regarding Gov. Rick Perry’s decision to fast-track legislation to provide for a balanced budget amendment to the U.S. Constitution, for the 2011 legislative session. When the U.S. Senate convenes next week, Senator and Orrin Hatch, R-Utah, and I plan to introduce a balanced budget amendment to the Constitution that would require balanced budgets and a two-thirds vote in both the House and Senate on any measures that raise taxes, increase spending to more than 20 percent of the GDP, or result in spending that exceeds revenues.
At a time when the federal government has run up a $14 trillion national debt and the American people refuse to foot another dime in reckless spending, I applaud Governor Perry for prioritizing the need for a balanced budget amendment to the U.S. Constitution. If Washington continues on this unsustainable path—shirking its fiscal responsibilities and piling debt onto future generations—we will face a financial crisis like none this country has experienced before. If working families across Texas have to balance their checkbooks and live within their means, certainly their government can do the same.