Balanced Budget Constitutional Amendment Introduced in Senate
1:44 PM, Feb 13, 2013 • By DANIEL HALPER
Senator John Cornyn, as well as all other 44 Republicans in the Senate, introduced the balanced budget consitutional amendment today in the Senate.
"With more than $16 trillion of debt, including nearly $6 trillion since President Obama took office, we are facing nothing short of a fiscal crisis. Everyone agrees that our nation is on an unsustainable path, but unfortunately as we saw last night, President Obama is incapable of tempering his appetite for more and more spending," says Cornyn in a statement.
"We must set effective limits on spending and taxes, and require a balanced budget. Families across Texas have to balance their checkbooks and live within their means, and there is no reason their government should operate any differently."
The senator's office explains what the amendment would do: