March 25th, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today issued the following statement praising Senate Republicans for conditioning support of an increase in the $14.294 trillion debt ceiling to the passage of a balanced budget/spending limit/tax limit amendment:
"Senate Republicans today have taken the bold step of conditioning their support of an increase of the debt ceiling to the passage of a balanced budget amendment. This is precisely what the American people have been asking for, and it has not come a moment too soon. With a national debt soaring above $14 trillion that will soon be larger than the entire economy, soon the debt will become too large to even refinance, let alone ever be repaid.
"This is by far the best balanced budget proposal that has ever been offered. Reducing the share of government to 18 percent of GDP would be a huge first step.
"We praise Senate Republicans for keeping their word and offering a bold and innovative proposal to bring the nation's fiscal house into order. We cannot afford to continue kicking the can on increasing the national debt, because the next time it is kicked, it may very well be off a cliff into fiscal insolvency. Now is the time to act."
Senate Proposal to Balance the Budget, March 25th, 2011 at www.getliberty.org/files/BBA 032511.pdf .
One page fact sheet on Balanced Budget Amendment, March 25th, 2011 at www.getliberty.org/files/BBA One Pager 032511.pdf .