From State Senator Jim Oberweis, running for the U.S. Congress:
Jim Oberweis signs Balanced Budget Amendment Pledge
Sugar Grove, IL – Jim Oberweis, candidate for Congress in the 14th District, has pledged his support for the Balanced Budget Amendment because he is concerned about the growing national debt and the negative impact this will have on future generations.
“Spending is out of control,” Oberweis. “We have a national debt approaching $23 trillion. There is no fiscal restraint when it comes to spending in Washington D.C. We are stealing the future of our children and grandchildren by continuing to spend money we do not have. If Congress can’t voluntarily rein in spending, then we need a Constitutional Amendment to force some fiscal restraint.”
Specifically, Jim is pledging to support a U.S. Balanced Budget Amendment that at a minimum:
- Prohibits total annual federal spending from increasing faster than inflation up to 2% plus population growth with exceptions for social security and national emergencies.
- Stipulates the state convention mode of ratification (a vote of the people)
He also is supporting the Let Us Vote for a Balanced Budget Amendment Resolution that:
- Sets the time and place (“call”) for an Article V Convention of States to propose a U.S. Balanced Budget Amendment,
- Voids any convention-proposed amendment unrelated to balancing the federal budget and
- Stipulates the state convention mode of ratification (a vote of the people).
According to Let Us Vote for a Balanced Budget Amendment, regardless of which party has been in charge, the “national debt has grown, steadily, for the last sixty years. The Swiss, by contrast, adopted a constitutional fiscal limit they call the “Debt Brake” in 2001, which slowed total spending growth to about 2% per year. Subsequently, Switzerland has surpassed the U.S. in per-capita GDP, and while debt has risen dramatically across the world’s advanced nations, Swiss debt has declined without raising taxes.”