By The Raleigh Telegram
RALEIGH – U.S. Congressman George Holding (Republican, 13th District) has announced that he is co-sponsoring a bill in the House of Representatives that would amend the United States Constitution. According to Holding’s office, the bill would require that the federal government operate on a balanced budget.
Many states, including North Carolina, have such an amendment or rule in their respective state Constitutions which do not allow deficit spending.
““Today I joined House Judiciary Chairman Bob Goodlatte in cosponsoring two versions of an amendment to the Constitution requiring a balanced budget,” said Rep. Holding in a statement sent to the media. “This amendment would put needed restrictions on spending and require Congress to deal seriously with our nation’s dangerous spending addiction.”
Holding further stated that the problem of deficit spending which he said was now “unsustainable” was something that both parties were responsible for.
“The national debt currently stands at 16.4 trillion and is rising by the second…A Balanced Budget Amendment is a logical measure to ensure that Congress does not spend more than it receives, and to begin to control our spending problem,” said Holding. “Both parties are guilty of spending more than our revenues allow – this will put an end to such excesses.”
Holding said both balanced budget amendment bills that have been introduced will be headed to the House Judiciary Committee of which he is a member. ::
Article Posted: Tuesday, January 8th, 2013.