OAR Blog Post – Balancing the Budget – You Cannot Deficit Spend at the Kitchen Table
Since the early days of this great nation, the idea of a balanced budget has been paramount. Thomas Jefferson brought up the need to spend within our means during his first administration and the notion of creating a balanced budget amendment to the constitution has fallen upon deaf ears ever since
For one reason or another, while the people of the United States sit at their kitchen tables month in and month out to establish their budgets and set spending for the days and years to come, our federal government sees no need to follow this common sense routine.
During a time of emergency or necessity a family may need to use credit to make ends meet, but the normal American family cannot and should not attempt to live their day-to-day lives by deficit spending. When times are lean we must tighten our belts, when our wallets are flush we save for a rainy day.
Somehow this concept has continued to elude the federal government.
Our nation is currently $18.7 trillion in debt and running at a $439 billion for the last fiscal year. This is unacceptable and unsustainable.
Since at least 1936 representatives in congress have attempted to push forward legislation for balanced budget amendments to no avail. The closest came under the Reagan administration when Democrat Senator Paul Simon penned a bill. Sadly, even with bipartisan support it could not pass.
49 of our 50 states have either a balanced budget amendment to their state constitution or have the requirement for a balanced budget in their state statutes, (the only exception being Vermont).
Once again, the federal government should take notes from 49 of 50 states and give the people what they deserve – a government that lives within its means.