Spending Limitation Amendment Press Conference
Washington, DC – Representative Tom McClintock (CA - 04) today made the following remarks at a press conference held to introduce a Spending Limitation Constitutional Amendment. Representative McClintock is co-author of the legislation.
During the 1980’s, California enjoyed a Constitutional spending limit that produced a decade of balanced budgets, prudent reserves, no tax increases and steady economic growth. You can measure California’s fiscal collapse from that day in 1990 when Californians foolishly threw that limit away.
History offers us not a single example of a nation that spent and borrowed and taxed its way to economic prosperity, but it offers us many examples of nations that spent and borrowed and taxed their way to economic ruin and bankruptcy.
Let that not be the epitaph of the American Republic. Let it be said that just when it appeared that America’s credit, currency and prosperity were about to be destroyed by reckless spending, this generation restored sound principles of fiscal management and insisted that its government do what its people do every day: work hard, waste not, and live within your means.
Congressman McClintock speaks at a press conference in Washington, DC, held to introduce a Spending Limitation Constitutional Amendment. Congressman McClintock is co-author of the legislation. March 3, 2010.