Paxton: Balanced Budget Amendment to U.S. Constitution is Necessary

This week I joined some of my colleagues from the Texas House of Representatives along with Texas  Governor Perry to support the adoption of a balanced budget amendment to the United States Constitution.  In January 2001 our national debt was at $3 trillion -- just nine years later our national debt now exceeds $12 trillion dollars and Congress is considering raising the cap on the national debt to over $14 trillion.   The burden of our national debt is currently more than $39000 for each man woman and child in our country. In 1979 the State of Texas petitioned the United States Congress to enact a balanced budget amendment that reads the total of all federal appropriations made by the Congress for any fiscal year may not exceed the total of all estimated Federal revenues for that fiscal year.  Thus far Congress has taken no action on passing a balanced budget amendment.  The State of Texas has a balanced budget amendment in our own state constitution that has served us well.  Our state appropriations cannot exceed our state revenues.  The amendment also states that the state budget cannot grow faster than the growth in the states economy.  If Congress would use Texas as an example for these practical balanced budget principles our country would be much better served.  Families are experiencing financial difficulties right now given the recent downturn in the economy.  At this time families are forced to tighten their belts and live within their means.  I respectfully request the federal government to do the same and then repay our taxpayers for the enormous amount of public debt our country has incurred.