[Congressional Record Volume 156, Number 108 (Wednesday, July 21, 2010)]
[Senate]
[Pages S6086-S6087]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. HATCH:
  S.J. Res. 35. A joint resolution proposing an amendment to the 
Constitution of the United States relative to a balanced budget; to the 
Committee on the Judiciary.
  Mr. HATCH. Mr. President, I rise today to express my growing alarm 
about the excessive amount of government spending that is adding to our 
national debt at an exponential rate. We simply cannot continue to add 
these annual trillion dollar-plus deficits to the amount to be repaid 
by those in generations to come. Today, I am introducing a measure that 
would ensure that the futures of our children and grandchildren will 
not be crippled by the reckless spending of those who control Congress 
and the White House today. After long study of this disturbing trend, I 
have concluded that the best way to get a handle on this deficit 
spending is by amending the Constitution by requiring each Congress to 
put forth a balanced budget.
  Amending the Constitution is no small task, nor is it a trifling 
matter. Though hundreds, if not thousands, of amendments to the 
Constitution have been proposed, this founding document has been 
amended only 27 times in our nation's history. Amending it now to deal 
with overspending may appear to be a monumental undertaking. However, 
Utahns and other Americans across the nation have spoken loud and 
clear--no more excessive government spending that will add to the debt 
to be borne by the next generation.
  The liberals in Congress have had their turn over the past couple of 
years to try to revitalize our economy, and we still remain with 
trillion dollar-plus deficits coupled with a stagnant unemployment rate 
of nearly 10 percent.
  The economy did not turn sour yesterday. It went south nearly two 
years ago, and the major accomplishments of the current Administration 
and its congressional allies is to enact an ineffective $1.1 trillion 
stimulus bill, an exacerbation of our entitlement crisis through the 
trillion dollar-plus health care bill, and an invasive and job-killing 
financial regulatory bill. All of these further harmed our nation's 
fiscal health.
  The measure I am proposing is straightforward. It would simply 
require Congress to submit a budget where the total outlays could not 
exceed total revenues. It would require Treasury to use any surplus to 
pay down the Nation's debt. Any tax increase would have to be approved 
by two-thirds of the Members of Congress.
  I realize that requiring a balanced budget will not necessarily end 
the outrageous government spending that has occurred over recent years, 
but it will at least provide Congress with a stronger incentive for 
fiscal responsibility. Balanced budgets are about more than sound 
fiscal policy; they are a moral responsibility that government often 
fails to meet. Individuals and families who live wildly beyond their 
means face dire consequences. Government should have to live by the 
same standards, especially since this money belongs to the people. The 
Constitution is the most important tool by which the people place 
limits on government and it appears that the Constitution is what it 
will take for the government to live within its means.
  The outstanding public debt is now over $13 trillion. That equates 
roughly to $42,000 for each American. This year we are estimated to add 
another $1.3 trillion, which is about what we added last year. This is 
more than $41,000 added to the debt every second. Most of this spending 
is going towards increasing the size of the Federal Government, 
creating and expanding government programs, and providing more 
entitlements.
  Economists agree that our Nation must get our outrageous deficit 
under control. The nonpartisan Congressional Budget Office recently 
released its Long-Term Budget Outlook. In this report, the CBO projects 
that the national debt will reach 62 percent of GDP by the end of this 
year, the highest since the end of World War II. To put this in 
perspective, at the end of 2008, our debt was 40 percent of GDP and the 
historic average has been around 36 percent.
  The CBO also projects that deficits will average about $600 billion 
annually from 2011 through 2020 and the national debt to grow by 67 
percent by 2020. Congress needs to act now.
  If anyone is still questioning whether this enormous debt poses a 
threat to our economy, the warning signs are clear. The World Bank 
cautioned that we could have a double dip recession if the financial 
markets lose confidence in our ability to repay our debt. Federal 
Reserve Chairman Ben Bernanke testified before the House Budget 
Committee and said ``unless we as a nation make a strong commitment to 
fiscal responsibility, in the long run, we will have neither financial 
stability nor healthy economic growth.''
  On Monday, President Obama gave a speech in the Rose Garden scolding 
Republicans for what he believed was an effort to prevent the 
unemployed from receiving benefits. What he has failed

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to acknowledge is that both sides--Democrats and Republicans alike--
agree on extending the additional unemployment insurance. What fiscal 
conservatives object to adding another $30 billion plus to the deficit. 
The President said ``It's time to stop holding workers laid off in this 
recession hostage to Washington politics.'' This same logic and 
rhetoric can be applied to our children and grandchildren who will be 
held hostage by, and have to pay for, the irresponsible government 
spending this Congress passes today.
  It is time for solutions and not just rhetoric. I believe that we can 
achieve a balanced budget while promoting economic growth. We have the 
strongest economy in the world, for now. Let us not have our 
indebtedness create misery for us and generations to come.

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