Fiscal Responsibility
Fiscal Responsibility
Under the principle of fiscal responsibility, the federal government should spend no more than it takes in, and only run deficits in very limited, specific circumstances. Washington should use reasonable budget projections to forecast future revenue and only spend money on its constitutional obligations. Budget deficits should require Congress to prioritize spending and make necessary cuts to wasteful, duplicative, and ineffective programs.
Unfortunately, Washington rarely, if ever, operates under the principles of fiscal responsibility. The current system is set up to spend too much and borrow more It is a downward spiral with only negative economic consequences.
Simple reforms like spending caps, deficit targets, and “pay-as-you-go” have proven ineffective at forcing fiscal responsibility in Congress. I believe we must operate under the framework of a balanced budget amendment so that Congress is unable to spend beyond its means unless it is truly necessary.
A balanced budget amendment would not dictate where we direct specific resources or tell the federal government where to reduce spending. Future Congresses would still determine our spending priorities. However, it would force Washington to act fiscally responsible way with those limited taxpayer resources and bring greater accountability to government.
Blogs
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12/6/12 | Getting this Right, Right Now |
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11/28/12 | Discussing the Fiscal Cliff |
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5/16/12 | Saving The American Dream |
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10/4/11 | Joint Economic Committee Hearing with Ben Bernanke |
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8/11/11 | Restoring the Limited Role of the Federal Government |
8/2/11 | The American People are Being Held Hostage by Debt |
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7/14/11 | Lee Demands President to Explain Social Security Threat -- Floor Speech -- 07/14/2011 |
Day Lee Briefings
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7/24/12 | The Hamburgler -- Day Lee Briefing 7/24/2012 |
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3/21/12 | Supreme Court Basics -- Day Lee Briefing 03/21/2012 |
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2/6/12 | No Budget this Year -- Day Lee Briefing 02/06/2012 |
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12/14/11 | Senate to Vote on Two Balanced Budget Amendments Today -- Day Lee Briefing 12/14/2011 |
Op-Eds
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11/26/12 | LEE: After fiscal cliff comes fiscal avalanche |
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9/21/11 | A Pro-Growth Jobs Agenda |
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8/30/11 | Congress Needs Structural Reform |
8/29/11 | Washington doesn't know best |
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7/8/11 | Obama's "Recovery" Worst in Modern Times |
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6/27/11 | Cut, Cap, and Balance |
Press Releases
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5/16/12 | Lee Delivers Speech on Today’s Budget Vote |
5/15/12 | Lee offers Amendment to End Export-Import Bank |
5/14/12 | Lee Expects Budget Vote This Week |
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3/29/12 | Lee Introduces the Federal Reserve Modernization Act |
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2/13/12 | LEE: President’s Budget ‘Irresponsible and Shameful’ |
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1/27/12 | Lee Introduces Budget Before Borrowing Act |
1/23/12 | Lee Highlights Democrats' 1000 Days of Failure |
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11/16/11 | Republicans Announce Welfare Reform Act of 2011 |
11/2/11 | Lee Co-Sponsors Reform to Eliminate Budget Gimmicks |
11/1/11 | Lee: Failed Motion Shows Commitment to Big Spending Remains |
Videos
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8/2/11 | Closer to the Unknown |