Washington, D.C. – Congressman Jim Moran, Northern Virginia Democrat, released the following statement after the House of Representatives voted down a balanced budget amendment.
“The balanced budget amendment that failed to pass the House today is not a practical or responsible solution to our nation’s budget woes. It would impose dramatic cuts when we can least afford them, cripple the economic recovery and imperil our social safety net: Medicare, Medicaid and Social Security.
“Further, H.J.Res.2 would prevent Congress from responding to potential economic disasters in the future by barring necessary countercyclical spending in the absence of a supermajority. It would also cast further doubt on the full faith and credit of the United States by raising the threshold required to increase the debt limit. Given the polarization that we are currently experiencing, I have severe doubts that the required supermajority could be secured either to respond to a crisis or raise the debt ceiling.
“This bill would do far more harm than good. Our nation is facing a deficit that requires tough decisions. A balanced budget can be achieved through spending cuts, revenue increases and tough enforcement of the Pay-As-You-Go rules which were in place during the Clinton Administration, taking our country from a deficit to a projected surplus.”