[Congressional Record Volume 143, Number 1 (Tuesday, January 7, 1997)]
[Extensions of Remarks]
[Page E1]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


              THE BALANCED BUDGET CONSTITUTIONAL AMENDMENT

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                            HON. BILL ARCHER

                                of texas

                    in the house of representatives

                        Tuesday, January 7, 1997

  Mr. ARCHER. Mr. Speaker, today I am introducing a joint resolution to 
amend the Constitution in order to mandate the U.S. Congress to commit 
to balancing the Federal budget and remove the burdens of large Federal 
deficits off of the American people. This legislation is essential to 
the future of our Nation as we stand on the threshold of the 21st 
century. The costs of maintaining our national debt have absorbed 
increasing proportions of national savings that would otherwise have 
been available to finance investment, either public or private. Today, 
interest payments alone on the debt are the largest item in the budget, 
comprising over 20 percent of all Federal spending.
  This type or irresponsible spending and management must end. Now the 
105th Congress has the opportunity to do just that. My balanced budget 
amendment is very similar to the language that passed the House of 
Representatives in 1995 by a vote of 300 to 132. However, the most 
important distinction of my amendment from the 1995 language is the 
provision specifying the vote margin needed to waive the balanced 
budget requirement. Under the previously passed bill, three-fifths of 
the whole House and Senate were required to waive the balanced budget 
requirements. My amendment sets a more stringent and imperative 
requirement of two-thirds of those present and voting--the same margin 
necessary to pass a constitutional amendment.
  I hope that my colleagues, on both sides of the aisle, agree that 
actions speak louder than words. We've talked about our commitment to 
balancing the budget for long enough, it's time to do it.

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