Washington Has A Spending Problem

Floor Speech

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Mr. MORAN. Mr. Speaker, Washington has a spending problem. I know it, you know it, and more importantly, the American people know it.

Our addiction to unaccountable spending has resulted in our Nation accumulating more than $32 trillion in debt, leading to crippling inflation and a financial burden that future generations will struggle to overcome.

That is why I have introduced the principles-based balanced budget amendment, which would require annual spending and revenue to balance and affirm the principle of fiscal responsibility through constitutional mandate.

If ratified, this constitutional amendment would require Congress to balance the budget within 10 years while still allowing Congress to determine the mechanisms of how to achieve that balance through statute.

Under the Constitution, Congress holds both the power of the purse and the responsibility of the purse. Let us fulfill that responsibility with a strict measure of accountability.

Mr. Speaker, I urge my colleagues to support this effort to affirm the principles of fiscal responsibility through constitutional mandate. Our financial future in America depends on it. We must act now.

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