U.S. Senator Deb Fischer has announced her support of the Balanced Budget Amendment, which would seek to make a national budget that limits future spending.
The amendment would constitutionally require the president to give Congress a balanced budget that limits future spending to 18 percent of the nation's Gross Domestic Product. Congress would then be required to pass a balanced budget meeting those same restrictions.
After Tuesday's announcement supporting the amendment, Fischer said, "Nebraskans know – and have told me consistently – that the only way to avoid a European-style fiscal crisis is to cut out-of-control government spending. It's what I was sent to Washington to do."
She continued saying she thinks the Balanced Budget Amendment may be the only way to start the discussion setting the nation's top priorities. She said, "Families across Nebraska have been sitting around kitchen tables and making hard decisions; it's time for Washington to do the same. A Balanced Budget Amendment will force the federal government to reduce the deficit, enact responsible spending policies, protect the money of hardworking taxpayers, and generate real economic growth."
The National Conference of State Legislatures reports that nearly all states require a balanced budget met with stringent requirements.