Buchanan Testifies Before U.S. House Judiciary Committee
Mounting Debt “Bankrupting Our Grandchildren”
WASHINGTON – Congressman Vern Buchanan, testifying before the U.S. House Judiciary Committee, urged passage of a Constitutional Balanced Budget Amendment to reduce the snowballing national debt.
Buchanan, who has championed the cause of a Balanced Budget Amendment since coming to Congress, was asked to outline his legislation to the committee. His bill would require the federal government to balance its budget each year, prohibiting deficit spending except in time of war.
“Our national debt is on an unsustainable path,” Buchanan told the committee. “We are clearly bankrupting our children and grandchildren. I have no confidence in this Congress – Republicans and Democrats – to do anything on this issue short of a balanced budget amendment.”
Buchanan’s testimony came during a U.S. House Judiciary Committee hearing last week on America’s unsustainable federal debt burden. America is nearly $20 trillion in debt and is on pace to hit more than $30 trillion in the next 10 years if no changes are made, according to the nonpartisan Congressional Budget Office.
Forty-nine out of 50 states, including Buchanan’s home state of Florida, have balanced budget requirements. Buchanan noted that these states make tough choices in their budget every year as part of their obligation to be responsible stewards of the taxpayers’ money.
Earlier this year, Buchanan also introduced his No Pay Raise for Congress Act, legislation that prohibits pay raises for members of Congress in any fiscal year they fail to balance the budget.
Buchanan is a senior member of the House Ways and Means Committee.