Proposing A Balanced Budget Amendment to the Constitution

Floor Speech

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Ms. BONAMICI. Mr. Speaker, I rise today in strong opposition to this proposal to amend the U.S. Constitution. This amendment, if ratified, would likely result in devastating cuts to programs like Social Security and Medicare that would harm Oregonians and families around the country. H.J. Res. 2, the Balanced Budget Amendment, would require the federal government to cut any spending that is not fully offset by incoming revenue, including spending on Social Security, Medicare, and Medicaid. I agree that Congress must act in a fiscally responsible manner, and we owe it to our children and grandchildren to not leave them with a country that has a significant debt burden. But there are many ways to be fiscally responsible, including finding smarter, better ways to provide important services and by making investments that actually grow the economy.

It is important to note that the majority is bringing this measure to the floor for a vote now, not long after the passage of their partisan tax bill that will further exacerbate income inequality and explode our deficit by about $1.9 trillion dollars. Our seniors deserve better than having their Social Security benefits-which they have earned over a lifetime of hard work-jeopardized under the guise of fiscal responsibility. If my colleagues on the other side of the aisle are serious about reining in federal spending, we should look to commonsense reforms, not across-the-board measures that put Social Security, Medicare, and Medicaid at risk

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