WASHINGTON – House Republican Conference Chairman Jeb Hensarling (R-Texas) today joined other House Republican leaders and members of the Balanced Budget Amendment Caucus to encourage support for an amendment to the Constitution to ensure that Washington balances the budget and solves our debt crisis by living within its means. The Balanced Budget Amendment is scheduled to be considered by the House of Representatives next week.
“Our president is currently presiding over the worst economy since the Great Depression. He is presiding over the greatest debt challenge since the dawn of the Republic. These are not ordinary times, these are extraordinary times, and they demand an extraordinary remedy.
“The president wants us to help pay for his spending binge. Since we started this debate our message to the president has been simple, ‘Mr. President, if you want our help to pay your bills it is time to cut up the credit cards.’
“The debate over the balanced budget dates back to the dawn of the Republic; Jefferson lamented that it was not part of our Constitution. But we are on the verge of being the first generation in America’s history to leave the next generation with a lower standard of living.
“Winston Churchill once said, ‘Americans can be counted on to do the right thing once they have exhausted every other possibility.’ It is a humorous line for times that are not humorous. We have spent decades exhausting the other possibilities. The American family has to balance its budget; companies that are trying to create jobs have to balance their budget; why would we expect that a great nation can continue on indefinitely without balancing its budget? It is time for a balanced budget amendment to the Constitution of the United States of America.”