For generations, hard-working Maine families have balanced their checkbooks at the kitchen table.
I can remember nights when my parents sat down, brought out their calculators and combed through their finances to make sure our family stayed on a budget.
As Maine’s State Treasurer, I worked with all political parties to help balance Maine’s books and pay down our debt.
Now, the time has come for Washington to – finally – do the same.
Earlier this year, President Obama unveiled his budget. His budget never balances, ever. His budget also raises taxes by two trillion dollars. The President and his Administration continue to believe that taxing and spending is the best method to balance the budget. This doesn’t work.
Washington has dug itself into a fiscal hole. It’s the responsibility of today’s Congress, Republicans and Democrats, to start fixing the problem before it further damages our economy.
Last month, I supported the House budget, which I believe is the first step in helping put our federal budget back on the right fiscal track. Balancing our budget will not only give job creators the confidence they need to expand their businesses, start new ones and create more jobs, but it will also help secure our future.
This House budget balances in less than ten years without raising taxes. It saves $5.5 trillion by thoughtfully and carefully prioritizing our spending. This is a stark contrast to the President’s budget that never balances, ever, and raises taxes on our hard-working Maine families and businesses.
Most importantly, the House budget calls on Congress to pass a balanced budget amendment to our Constitution. You may recall, one of my first acts as a member of Congress was becoming an original cosponsor and speaking on the House floor in support of this legislation. Once implemented, this institutional discipline will help prevent Washington from getting us into this mess again. I applaud Gov. LePage’s in working to institute this fiscal discipline in Maine.
Also, as Tax Day approaches, the Balanced Budget for a Stronger America calls for a simpler tax code. As of right now, U.S. taxpayers and businesses spend roughly 7.6 billion hours a year complying with the filing requirements of the Internal Revenue Code. We must make the tax code easier to understand for Mainers and our businesses.
Additionally, the House budget will help secure our future. The House budget not only strengthens and protects Medicare, but it will also prevent the President from raiding the regular Social Security Trust Fund. Our senior citizens helped build this great country and state and the President must not be allowed to raid Social Security.
As your Congressman this is something I will never forget or take for granted. We must make sure programs like Medicare are well managed so our senior citizens, their doctor care givers, and the taxpayers who fund our government, are all protected.
In the coming weeks, we will have a vigorous debate on the budget and Maine’s Second District will be sure to have a strong voice in the conversations.
More jobs, more opportunities, more freedoms and better lives – that’s my vision for Maine’s Second District. It’s truly an honor to serve you.
Bruce praised the senior citizens. That’s nice. I’m so senior I’m half way down the slope of senile decay. A balanced budget is a good thing, but I’m a little wary since it works as a demand for raising taxes. Olympia Snowe’s memoirs touted the BBA several times over. She had nothing to say about any effort to reduce expenditures, but boasted of her resistance to tax cuts.