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08 January 2009

Five Georgians Co-Sponsor Federal Balanced Budget Amendment

A balanced budget amendment to the United States Constitution should not be a point of contention for any Democrat, Republican, Libertarian or independent. Unfortunately for this country's fiscal future, it is.

On January 6th, 113 members of the U.S. House of Representatives introduced H.J.RES.1 proposing a balanced budget amendment to the Constitution of the United States. Listed among those co-sponsoring the balanced budget amendment are five Georgians -- Phil Gingrey, John Linder, Jim Marshall, Tom Price and Lynn Westmoreland.

The bill was referred to the House Judiciary Committee where it will probably languish as lawmakers continue to spend and spend on the nation's credit card.

Now I'm going to be honest with you here. If any other business handled its financial affairs the way the federal government does, then that business would be out of business.

Jason Pye touched on this subject a couple times this week highlighting President-elect Obama's recent comments that "Potentially we've got trillion-dollar deficits for years to come, even with the economic recovery that we are working on."

Yesterday, the Congressional Budget Office projected a whopping $1.2 trillion deficit for fiscal year 2009. That is a sobering figure, and it makes you wonder how high the deficit will continue to rise until it reaches a breaking point.

As I've written before, there comes a time when the government has to say enough is enough and turn off the spigot of cash. We are losing any semblance of fiscal restraint, fiscal responsibility and fiscal conservatism in this country.

The balanced budget amendment is a step in the right direction. . .

. . .if only it would pass.