Paul Ryan was right to cast his vote against the Balanced Budget Amendment on Friday. We need an amendment that treats the disease (excess spending), not the symptom (deficits). We need an amendment that would limit government spending, not set a tax trap. Instead of a Balanced Budget Amendment, we need a Limited Government Amendment.
Such an amendment would provide a long-overdue check on Congress’s power to spend, while also permitting sufficient flexibility to satisfy what Hamilton called the full “extent and variety of national exigencies.” It would re-limit government, reestablish fiscal responsibility, and — over time — profoundly reduce federal spending as a percentage of the gross domestic product. Click here to see the text of the proposed amendment or read more about it.