Washington, D.C. -- U.S. Senate Republican Leader Mitch McConnell made the following statement on the Senate floor Thursday regarding a vote on legislation that would cut government spending now, cap it in the future and approve a constitutional amendment to balance the federal budget:
Jul 19 2011
Forty-nine states have balanced budget requirements, yet Washington is allowed to spend taxpayer dollars unchecked. With the federal government borrowing 40 cents of every dollar it spends, it is long past time for Washington to be required to balance its budget. Republican senators have united to co-sponsor a balanced budget amendment to end Washington’s spending spree and put our nation back on a path to fiscal responsibility.
Despite the fast-approaching deadline for raising the debt ceiling, President Obama has yet to produce a concrete plan to address our nation’s colossal debt. Meanwhile, his failed economic policies have left individuals and businesses struggling. Senate Republicans hope the president will stop obstructing real reform and work with Republicans to put in place responsible economic policies to reduce the debt and create an environment where businesses can grow and create jobs.