On Feb. 6, the U.S. House of Representatives approved the “Require a Plan Act,” by a vote of 253-167.
This bill, sponsored by Rep. Markwayne Mullin and Rep. Tom Price (Georgia), would direct the president to produce a budget that balances the federal budget within 10 years. If he fails to do so, he would then be required to provide a supplemental budget plan by April 1, identifying what year the budget will be balanced.
“All we are asking of President Obama today is that he tell the American people when and how he would balance the budget. The American people are demanding that Congress and the President take action to address the growing debt crisis in this country so that we leave our children and grandchildren a nation that is fiscally responsible and economically prosperous,” said Price.
“It has been far too long since we’ve had a budget in this country. It’s time to get serious. This common sense legislation is a step in the right direction. Oklahoma families and businesses know what it is like to live within a budget and it is high time that Washington D.C. learns to do the same. In my experience with my businesses, I know what it is like to budget in good times and bad.
“The families and businesses in my district know that if they consistently spent more money than they took in, there would be serious repercussions resulting from that decision. The same is true for our national budget. We cannot continue our reckless lack of planning while the United States sinks further into debt. By requiring a plan from this administration, we can finally hold our government accountable to the American people,” said Mullin.
Rep. Tom McClintock (California) compares the national debt to an American family.
“A family that earns $27,000 but spends $36,000 and has run up a credit card debt of $165,000 is on the brink of financial ruin. Proportionally, that’s exactly where our federal government is today,” said McClintock.
He said a credit counselor would tell that family the first thing they need to do is sit down and make a budget.
“We would expect this from a family, we should demand it of our government,” said McClintock.
He recognized that the family, like the government, is going to have some difficult decisions ahead of them and that it could take several years to reach solvency.
The United States Senate has not passed a budget in nearly four years. The bill outlines shortcomings in the national financial status. It says that despite a promise to cut the deficit in half, the deficit doubled during the president’s first year in office and has exceeded $1 trillion for four years now. Since taking office, the President has allowed the federal debt to grow by nearly $6 trillion and total debt now exceeds the size of the entire economy of the United states, it said.
In a interview, Price asked for transparency and honesty from the president and Congress. He pointed out that House Republicans have done their job as far as budget and finances are concerned.
“Economies that don’t demonstrate balance cannot be vibrant, cannot create jobs and cannot allow people to achieve their dreams. H.R.444 is a common sense bill,” said Price.