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HOUSE VOTES TO REQUIRE A PLAN FOR BALANCED BUDGET
Washington, Feb 6 -
The U.S. House of Representatives today voted for legislation that would require the President’s budget to outline a plan to eliminate deficits and achieve balance within 10 years. If the budget failed to do so, the President would be required to submit a supplemental budget identifying the year in which balance would be achieved.
Congressman Jack Kingston (R-GA), voted for the legislation calling it an obligation to future generations.
“Families, businesses, states, and localities all must live within their means and it’s time for the federal government to do the same,” said Kingston. “Unfortunately, the budget has become an afterthought in Washington. The Senate has failed to even pass one in four years and when President Obama’s are so unserious that they garner not a single vote in the House or Senate. We owe it to our children and grandchildren to submit an honest plan for freeing them of Washington’s massive debt burden.”
The legislation, which passed with bipartisan support by a vote of 253-167, now heads to the Senate for consideration.
It comes just a day after a report for the non-partisan Congressional Budget Office released its Budget and Economic Outlook which projects unsustainable deficits for years to come. In it, the budget watchdog projected the deficit for the current fiscal year will reach $845 billion and that total debt will rise by $10 trillion within the budget window.
The legislation also comes in the same week the Obama Administration missed its statutory deadline for submitting a budget proposal to Congress. This marks the fourth time in five years the President failed to submit a budget by the legally-required date and the Administration has given no indication of when its budget might be prepared.
House Budget Committee Chairman Paul Ryan (R-WI) has pledged that the House will submit its budget on time and that it will contain a path for balance within the 10 years.
“Providing the leadership America needs right now requires all of us to be honest partners at the table,” said Kingston. “This White House and this Senate have shirked their responsibilities for too long. It’s time for both to join the House in this important effort to get our country’s fiscal house in order.”