[Congressional Record Volume 140, Number 34 (Wednesday, March 23, 1994)]
[Extensions of Remarks]
[Page E]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: March 23, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                BALANCED BUDGET CONSTITUTIONAL AMENDMENT

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                               speech of

                     HON. RANDY ``DUKE'' CUNNINGHAM

                             of california

                    in the house of representatives

                        Thursday, March 17, 1994

       The House in Committee of the Whole House on the State of 
     the Union had under consideration the bill (H.J. Res. 103) 
     proposing an amendment to the Constitution to provide for a 
     balanced budget for the U.S. Government and for greater 
     accountability in the enactment of tax legislation.

  Mr. CUNNINGHAM. Mr. Chairman, I rise today in support of an amendment 
to the Constitution to require a balanced budget. I have been an 
original cosponsor of many of these amendments because I continue to 
believe that we must have a constitutional amendment to get the job 
done. Everyone talks about our need to balance the budget, everyone 
realizes the increasing burden the debt is causing us and future 
generations, and everyone fears the ramifications of what these 
deficits will do to America's future. However, each year the Congress 
and the executive branch proceed the same way, and the debt grows.
  Our national debt currently exceeds $4.3 trillion, that is $17,495 
for every person in the United States. Under our current policies, our 
future generations are projected to face a lifetime net tax rate of 82 
percent just to pay the bills that we are leaving them--that is not the 
legacy I want to leave my children.
  It is clear that the Federal Government is incapable of maintaining 
fiscal responsibility. There are too many short-term interests that are 
growing into long-term problems. This amendment will give us the 
necessary tool to promote fiscal responsibility. It will provide a 
constitutional reason why no one will be able to turn away from the 
tough choices required to balance the budget.
  This amendment doesn't let Congress or the President pass blame on 
the deficit. Under this amendment, a three-fifths vote would be 
required to approve excess spending or to borrow money and the 
President would have to submit a balanced budget each year.
  Interest payments on the deficit will continue to consume larger and 
larger portions of the Federal budget threatening existing programs and 
preventing investment in the future. The time has come for a 
constitutional restraint--it is time to pass the balanced budget 
amendment.

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