Once upon a time, elected officials viewed achieving a balanced budget as a moral duty instead of vaguely desirable ideal like world peace. Given the apocalyptic reactions to demands for a balanced budget provoke from liberal members of Congress, one would think they were being asked to split the atom.
Balancing the budget isn’t alchemy or sorcery. It doesn’t require secret knowledge or superhuman political sacrifice. What it does require is political will, opposition to thieving from our children’s and grandchildren’s future to satisfy the spending lobby of today, a firm belief in limited government and a mastery of basic arithmetic.
Balancing the budget isn’t easy – but it is simple. We did it as recently as the 1990s Not only did it produce surpluses “as far as the eye can see” but it even put paying off the national debt within reach. This didn’t happen by accident, nor produced by historical forces beyond our control. It was the result the simple combination of spending restraint and tax and regulatory policies that spurred strong economic growth. It was the predictable consequence of deliberate policy choices made by the Congress and the White House.
Now we are faced with massive deficits as far as the eye can see – again, due to deliberate choices by our elected representatives. Endlessly piling up debt is unsustainable. Sooner or later, the bill comes due – and in the meantime the enormous interest payments on that debt prevent America from devoting resources to constitutional priorities like national defense.
At the Jobs, Opportunity and Freedom PAC, we know a return to balanced budgets requires a Congress with more fiscal hawks and fewer spendocrats. We also support a Balanced Budget Amendment to the Constitution. The Founding Fathers believed the necessity of a balanced budget to be so self-evident that now constitutional requirement was necessary. Today, the special interests fueling federal spending are so powerful a Balanced Budget Amendment is needed to compel Congress and the President to do what every American family does – balanced income with spending.