David has proposed a set of Better Budget Principles rooted in Iowa common sense, which will put the United States on a path toward getting our fiscal house in order.
• Balanced Budget Amendment – The concept here is simple: never spend more money than you have revenue. In Iowa, this concept is just common sense.
• Zero Based Budgeting – this solution simply means that each year, the funding level for all government programs and agencies will begin at $0. This is a better budgeting practice than giving every program the same amount as last year, plus a raise.
• Sunset Legislation – attaching a sunset clause to every law enacted by Congress means policies will no longer outlive their usefulness. When the sunset date arrives, Congress will examine the program anew and determine if it should continue for another finite period of time.
• Full Federal Audit – the budget of every government department and agency should undergo a thorough outside audit to ensure taxpayer funds are being used in the most effective manner possible.