When government grows faster than taxpayers’ ability topay for it, the result is a loss of personal freedom sincegovernment takes away taxpayers’ ability to decide how tobest spend their hard-earned money.
POSSIBLE SOLUTIONS FOR DISCUSSION
(NOTRECOMMENDATIONS OR ENDORSEMENTS BY THE TEA PARTYPATRIOTS)
One straightforward approach to ensuring the federal budgetdoes not grow faster than taxpayers’ ability to pay for it is byimplementing one or more spending limits. A reasonablespending limit could allow the federal government to meetits constitutional duties without allowing Congress to embarkon uncontrolled spending binges that compromise theAmerican economy, swamp future generations with stiflingdebt and unjustifiably raid taxpayers’ wallets.Examples of spending limits that could lead to reasonablefiscal discipline include:
A Balanced Budget Amendment – Originally devised in the1930s as a way to limit the size of the federal debt, abalanced budget amendment would alter the U.S.Constitution to require that the federal government spend nomore than its revenue. As a result, deficit spending wouldbecome largely forbidden except in rare cases war ornational emergency.
The Gramm-Rudman-Hollings Act – Named for its Senatesponsors, this 1985 legislation forced Congress toautomatically cut certain discretionary spending in thefederal budget if a series of deficit-reduction targets werenot reached.