Indy Star - Todd Rokita: Nation needs balanced budget amendment

Op-Ed

By Representative Todd Rokita

The debt ceiling increase recently approved by Congress treated a symptom of the disease affecting our country, but failed to cure the disease itself, which is debt driven by out-of-control spending. The silver lining is that there is a slight chance this deal could -- if we all work together and pressure Congress -- lead to the passage of a balanced budget amendment by requiring a vote in the House and Senate this year.

A balanced budget amendment is our best hope of averting a fiscal and economic calamity, and changing the nation's mindset from one of how we can have more today to how we can leave our children and grandchildren a better nation.

Throughout our history, Americans have recognized the gift they have been given. They have worked to better it and pass it down to future generations.

The first generation of Americans challenged the greatest empire in the world to secure the blessings of liberty for future generations. Eighty five years after that, Americans fought the bloodiest war in our history to ensure the survival of our nation and that all Americans might be free. The Greatest Generation fought to get our country back on its feet during the Great Depression and endured untold sacrifice to beat back the forces of tyranny during World War II.

Unfortunately, we have lost our way since. For the last several decades we have intentionally created mountains of debt for our children and grandchildren in order to finance excess in the present. It is intergenerational theft -- stealing from our best asset, our posterity. The result has been over $70 trillion in unfunded promises and the birthright of every American being transformed from freedom and opportunity into a $46,000 share of our debt.

I do not know of anything that runs more counter the principles that made America great than racking up a bill to be passed on to our best asset -- our children -- so that we can live beyond our means today.

Now is the time to put a stop to this intergenerational theft before it is too late. Now is the time to consider the future, not just the present. That is how I approach each vote I take in Congress and that is what a balance budget amendment would force us to do.

Mandatory spending programs like Social Security and Medicare are the primary contributors to our debt crisis. Without significant reforms, these programs will cease to exist for future generations. Many in Congress refuse to address these programs because they are more concerned about the next election than the next generation. A balanced budget amendment would force Congress to reform these programs.

In 1995, Congress came within one vote of sending a balanced budget amendment to the states for ratification. Since then, Congress has added over $11.5 trillion to the debt including nearly $6 trillion since President Obama took office. With the debt on track to as much as double in the next decade, we cannot afford to fail again.

All Hoosiers must talk to their family, friends, neighbors and coworkers about the importance of getting a balanced budget amendment out of Congress. With the collective voice of the American people supporting the effort, I believe Congress will send a balanced budget amendment to the states and begin a process that will secure a brighter future for all Americans.

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