As the Alaska state Legislature is on the cusp of passing a budget that will force the state into unprecedented deficit spending, Gov. Sean Parnell signed legislation on Tuesday sponsored by Republicans Rep. Wes Keller, and Sen. John Coghill, calling for a Balanced Budget Amendment to the United States Constitution.
From a statement issued by Parnell:
We have worked hard to get Alaska’s financial house in order by addressing our largest budget cost driver – the state’s pension liability. Now it is time the federal government takes the necessary steps to address its out-of-control debt. America remains on an unsustainable spending path and we cannot rely on Congress or the president to fix this problem. A Balanced Budget Amendment will be an effective tool to rein in federal spending and not saddle future generations with our country’s debt.