America is facing a debt crisis that is unprecedented in our history. It hinders economic recovery, threatens our national security, and promises to limit freedom and opportunity for our children and grandchildren, while leaving them with a lower standard of living. It is not an exaggeration to say that, in many ways, Washington is engaged in an act of generational theft. Let there be no mistake, we have a debt crisis because Washington spends too much, not because the American people are taxed too little. The federal budget continues to grow way beyond inflation and way beyond the family budget’s ability to pay for it. Left unchecked and unreformed over the course of the next generation, the size and scope of government will double. Time is running out to put the nation on a desperately-needed new fiscal path. We must quit spending money we do not have. We must quit borrowing 42 cents on the dollar, much of it from the Chinese, and sending the bill to our children and grandchildren. Unfortunately, the Budget Control Act of 2011 by itself fails to accomplish this. Despite passage of this bill, we regrettably continue the pattern of borrowing money we do not have - and because of the president's unwillingness to truly cut spending - it represents a huge lost opportunity for our nation. Yet it contains one vitally important provision that caused me to support it, namely a provision compelling both houses of Congress to vote on a balanced budget amendment to the Constitution. In other words, the act contains the key to the ultimate solution to the nation's debt crisis. The act does not provide a guaranteed outcome to the vote, only a fighting chance for the American people to have their voices heard in what is perhaps the seminal debate of our time. The stakes could not be any higher for our nation and our future. Every family in America has to balance their budget, as does every small business. In total, 46 of 50 states have some type of provision in law requiring a balanced budget. Shouldn't a great nation be expected to balance its budget? Maybe the absence of a balanced budget amendment is the primary reason we find ourselves $14 trillion in debt. It has been 16 years since Congress last voted on a balanced budget amendment. It passed the House of Representatives, but failed by one vote in the Senate and thus was never sent to the states for ratification. Imagine where we would be today as a nation had we been successful then: debt free with a robust economy, plenty of jobs, and hope for the next generation. We must seize this moment, and the Budget Control Act of 2011 allows us to do just that. Without it, another 16 years may pass before Congress would act on its own to vote on a balanced budget amendment. We cannot wait that long. We cannot take that chance. Allow me to briefly enumerate a few other helpful provisions in the bill. First, it ends the precedent of debt ceiling extensions being routine or hidden from public view. It establishes the precedent that, for every dollar we borrow to make good on a current commitment, we will reduce at least a dollar of future commitments. The bill establishes in law, caps on what is known as discretionary spending, something I have fought for since coming to Congress eight years ago. And even though the actual cuts in the bill are barely "rounding errors" relative to the size of the problem, this bill assures that - for the first time in my lifetime - discretionary spending will actually be reduced two years in a row. Last but not least, the bill establishes the Joint Select Committee on Deficit Reduction which is tasked with finding an additional $1.5 trillion in deficit reduction over the next 10 years. I have been appointed to serve as co-chair of this committee and I am ready to work seriously with my House and Senate colleagues to address our nation's fiscal challenges. I do not believe this committee is the ultimate solution to our nation's spending-driven debt crisis, and given the design and make-up of the committee, I have tempered expectations of achieving far-reaching success. However, the duty given to this committee does represent an opportunity to make a meaningful impact on our nation's budget deficit, and at a minimum, the bill requires $1.2 trillion in automatic spending cuts should the joint committee or Congress fail to agree on a plan. If triggered, these automatic cuts would reduce funding for a number of government programs - including significant cuts to national defense spending which is of great concern to me. Unfortunately, changing the spending habits of Washington is akin to turning a battleship, so developing a plan to achieve this level of deficit reduction will require serious commitment and follow-through if we are going to succeed. I believe the upcoming vote on a balanced budget amendment is the "game changer" we have been waiting for. Time is of the essence for our nation. We are running out of road to kick the can down. Please feel free to make your voice heard by calling my office for more information about a balanced budget amendment to our Constitution. As a former member of the House Budget Committee and the National Commission on Fiscal Responsibility and Reform, I have made it a priority during my time in Congress to stop excess and wasteful government spending and ensure that the federal budget doesn't grow faster than our ability to pay for it. Rest assured, as a co-chairman of the Joint Select Committee on Deficit Reduction I will continue to fight for fiscal discipline within the halls of Congress so that our children's generation will not be burdened by this generation's irresponsibility. Yours respectfully, Jeb Hensarling Member of Congress www.hensarling.house.gov (202) 225-3484 – DC (903) 675-8288 – Athens (214) 349-9996 – Dallas Visit my YouTube page View my Facebook page Follow me on Twitter