The Reform Party will enforce fiscal responsibility and hold legislative and executive leaders accountable for it at our national, state and city levels.
Fiscal responsibility with accountability means that the Federal Government puts an end to the historical cycle of deficit spending and does so with a commitment to "accountability without loopholes" guaranteeing responsible budgets without borrowing against the nation’s future earnings. The Reform Party founder, Ross Perot, earlier identified the already building trend of borrowing against our future earnings with no placement of clear and definitive means of repayment. For example, our annual spending in 2020 had ballooned to $4.829 Trillion dollars, while only collecting $3.46 Trillion in revenue, without addressing the actual national debt.
We believe that Congress, state legislators, county and city governments must adjust their budget and policies so that all programs and services absolutely required for communities to function properly are funded without increasing deficits. We need to fundamentally reform the budget process, review all departments and agencies, eliminate overlapping jurisdiction over services, and base budgetary decisions on cost effectiveness and critical need. The national budget process is in dangerous and dire straits and so an amendment must be passed to require a balanced budget be passed annually or else legislators face specific consequences for failure to do so. This amendment allows for a single continuing resolution before penalties become effective and includes a caveat in case of national emergency requiring unexpected spending which requires the inclusion of a plan for repayment for the lost revenue also to include an estimated time frame for the revenue to be recouped.