CHATTANOOGA, Tenn. (WDEF) — US Senate candidate, Phil Bredesen, is laying out his proposal for balancing the federal budget.
Bredesen was in Chattanooga on Tuesday, speaking to a group at the Chamber of Commerce.
He says to pay off our debt within the next six years we have to hold our spending constant at $3.3 trillion going forward.
Bredesen explained when he was sworn in as governor, the state had a $300 million shortfall. He says 9 percent was cut across the board and set the overall spending level to balance the budget.
“I am just trying to put something on the table here to say look, if you want to cut this deficit down here is an approach to doing it. It is not different from what families and businesses have to do. I certainly already have the experience of doing something very much like that in a state successfully,” Bredesen said.
Bredesen’s opponent, Marsha Blackburn, announced that she believes passing a balanced budget amendment will put an end to runaway spending.