The federal government’s spending is out of control, and there are no signs of it slowing down. The U.S. national debt has now reached $33.4 trillion, placing a heavy burden on American taxpayers and future generations. Unchecked government spending is driving inflation, increasing dependence on foreign adversaries, and threatening national security. It is time for a Constitutional Amendment to rein in Washington’s reckless financial policies.
Mike Pence has proposed the Spending Limit Amendment, which would cap federal spending at 20% of America’s Gross Domestic Product (GDP). This would prevent irresponsible politicians from continuing Washington’s spending spree and force fiscal responsibility.
Federal Spending is Out of Control
- The U.S. national debt is now $33.4 trillion.
- That equals $99,670 per American (335.53 million population).
- The debt per American household is $269,671 (124 million households).
- The debt is now 124% of the nation’s GDP (GDP: $27.063 trillion).
- The last time the debt-to-GDP ratio exceeded 100% was after World War II (106% in 1946).
- Since President Biden took office, the national debt has increased by $5.7 trillion (20.5% increase since January 2021).
The Problem: A Broken System in Washington
Currently, 73% of federal spending is outside Congress’s control. Of the $6.35 trillion the government will spend this year, most of it is on entitlement programs and interest payments on the debt. Without reform, Washington’s spending habits will continue to spiral out of control.
The Spending Limit Amendment
The Spending Limit Amendment would impose strict financial discipline on Washington. Its key provisions include:
- Capping federal spending at 20% of GDP to ensure fiscal responsibility.
- Allowing waivers only during a declared war or with a two-thirds congressional vote.
- Forcing Congress to cut deficit spending or face automatic spending reductions.
- Preventing Congress from raising taxes as an easy way out, protecting hardworking Americans from inflationary tax hikes.
- Requiring nationwide ratification after passing through Congress to ensure lasting fiscal discipline.
Why This Amendment is Necessary
Congress has proven incapable of addressing America’s spending crisis. Political infighting and government shutdown threats highlight how broken the system has become. The Spending Limit Amendment would impose long-term solutions, not just temporary fixes.
Mike Pence’s Track Record on Fiscal Responsibility
Throughout his career, Mike Pence has been a strong advocate for reducing government spending and holding Washington accountable. His fiscal record includes:
- Sponsoring the Deficit Reduction Act, which offset spending on Hurricane Katrina by cutting $99 billion in entitlement spending (read the bill).
- Being one of only 33 Republicans to vote against No Child Left Behind, which expanded the Department of Education and increased spending by $135 billion (vote record).
- Voting against the $395 billion expansion of government-run healthcare under Medicare Part D (roll call).
- Leading the fight to pass the Budget Control Act, which implemented budget caps and cut spending by over $1.2 trillion (read more).
Mike Pence’s Spending Limit Amendment is a bold and necessary step toward restoring fiscal responsibility in Washington. By capping federal spending at 20% of GDP, this amendment would prevent reckless government spending, protect taxpayers from inflation, and secure America’s economic future.
Disclaimer:- This article provides an independent analysis of Mike Pence’s 2024 presidential campaign proposals. It serves as an informational and historical reference only. The content does not reflect current U.S. government policies, nor does it imply any endorsement or affiliation in 2025 or beyond. Any discussion of past administrations is solely within the context of the 2024 election cycle. This website operates as an independent news platform and is not affiliated with Mike Pence, any political party, or any government entity.