Future Generations Will Benefit from Balanced Budget Amendment (Rep. Kirsten Gillibrand)

This Balanced Budget Amendment contains many safeguards to ensure the necessary flexibility in case of war, natural disaster or an economic downturn.  The balanced budget requirement is waived during times of military conflict, and it can be waived at anytime with a three-fifths vote in the House and Senate.  Also, cuts in Social Security benefits could not be used to balance the budget.

It is my hope that my proposal will start a dialog on the serious need for a balanced budget, every single year.  If we do not take action now, then future generations will face higher taxes or cuts to federal investments – like education, health care and national security- in order to pay the interest on the national debt.  The deficit puts us at immediate risk from global political and economic problems, and I believe our children and grandchildren deserve more leadership and accountability.