Balanced Budget Amendment Will Put Our Fiscal House in Order
U.S. Senate Republican Leader Mitch McConnell made the following statement on the Senate floor Thursday regarding the need to pass a Balanced Budget Amendment to the United States Constitution to put our fiscal house in order:
"Over the past few days, a lot of people have taken it upon themselves to offer Republicans in Congress, and me in particular, their advice on the debt limit. And I've listened to all of it carefully.
"I appreciate how frustrating it is for people to think that in spite of everything we know about the state of our economy, despite all the warnings we've heard about the dangers presented by our deficits and debt, that we can't do something about it.
"I share their frustration.
"No one has spent more time cajoling and persuading this White House of the need to do something big.
"I was truly hopeful that the President could be persuaded to view the upcoming debt limit vote as an opportunity to cut Washington spending and the debt that has ballooned since he took office, and preserve entitlements. But, in the end, he just wasn't interested in something that would pass.
"He gave us three bad choices: higher taxes, smoke and mirrors, or default.
"And we refuse to accept any of them.
"Republicans will not be reduced to being the tax collectors for the Obama economy.
"We won't be seduced into calling a bad deal a good one.
"And we won't let the White House fool around with the full faith and credit of the United States.
"If the President wants to threaten seniors or veterans or rattle the world economy by pretending he can't pay our bills, let him.
"But he's not going to implicate Republicans in these efforts.
"That's why I proposed as a last resort a plan that would force the White House to really show its hand.
"If the President would rather default than cut back the size and scope of government, let him explain that.
"If he'd rather preserve his vision of Washington than protect entitlements, let him explain that.
"If he and the Democrat Senate would rather borrow and spend us into oblivion, that's on them.
"But don't expect any more cover from Republicans on it than you got on health care.
"None.
"The American people deserve to know what their elected representatives stand for in this debate.
"None of the proposals that have been presented up until now would do that.
"If Democrats won't agree to the reforms we need, then we should at least show the public where we stand.
"What they wanted was a deal that purported to lower the debt from $26 trillion to $24 trillion over 10 years, then have us give it the thumbs up and call it a bipartisan victory of fiscal discipline.
"Well, we weren't about to call this a good deal any more than we were willing to call the health care bill real reform.
"We refuse to let this President use the threat of a debt-limit deadline to get us to cave on tax hikes or phony spending cuts.
"It's time to change this debate altogether.
"It's time to make it clear to the American people where the two parties stand in this debate.
"Either you're with the President and his vision of a government that continues to live beyond its means.
"Or you're with those of us who believe Washington needs some strong medicine.
"Either you want to simply borrow and spend our nation into oblivion.
"Or you want to get our house fiscal in order.
"And the single most effective way to do that is with a balanced budget amendment.
"If the President and Democrats in Congress won't agree to cut back, let's force them to. Let's pass a constitutional amendment that actually requires Congress to live within its means.
"It's time for the American people to contact lawmakers on the Democratic side and demand it.
"Republicans are unanimous in their support for a balanced budget amendment.
"We need 20 Democrats to join us.
"It's an uphill climb. But if the American people speak out we can get it done.
"If the President won't agree to it, it's time we go around him and directly to the American people.
"Let's keep the pressure on.
"Let's show the administration where the public is on this issue.
"And get our fiscal house in order."
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