U.S. Reps. John Barrow (D-Ga) and Henry Cuellar (D-Texas) introduced today a Balanced Budget Amendment, H.J. Res 4, which would require U.S. President to submit a balanced budget proposal for Congress to pass each year.
Barrow and Cuellar are both members of the fiscally-conservative Blue Dog Coalition of congressional Democrats.
"For decades, the federal government has written checks it can't cover," said Barrow in a press release. "We've reached a point where our debt is unsustainable, and unless we act now to get our finances in order, future generations will be forced to pay for this out of control spending. Our bill requires the federal government to operate just like folks in Georgia – spending only what we can afford and balancing our budgets, it's that simple."
The legislation is an answer to two similar amendments that House Republicans proposed yesterday, and Georgia Republican Rep. Doug Collins co-sponsored.
Both the Democratic and the Republican measures attempt to force the federal government to put a stop to out of control borrowing and spending. The national debt is currently at almost $16.5 trillion.