[Congressional Record (Bound Edition), Volume 157 (2011), Part 12]
[House]
[Pages 16449-16450]
[From the U.S. Government Publishing Office, www.gpo.gov]




           BACK TO BASICS WITH THE BALANCED BUDGET AMENDMENT

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
California (Mr. McClintock) for 5 minutes.
  Mr. McCLINTOCK. Mr. Speaker, the International Monetary Fund 
estimated that as of Halloween night, the debt of this Nation surpassed 
its entire economy for the first time since World War II.
  We all know that if you live beyond your means today you're going to 
have to live below your means tomorrow. That's the tomorrow that our 
generation has created for the children who were dressed up as 
princesses and cowboys when they came calling on Monday night. This is 
our generation's eternal shame. And it's something that our generation 
must act to set right.
  The House is expected soon to vote on a balanced budget amendment 
that's critical to stop this plunder of our children. There are a 
number of excellent proposals out there, and I'd have no trouble 
supporting any of them. I do rise, however, to express the hope that 
the final product of these deliberations proves worthy of the wisdom 
that guided the drafting of the Constitution.
  The beauty of the American Constitution is in its simplicity and its 
humility. The American Founders recognized Cicero's wisdom that the 
best laws are the simplest ones. And they realized that they couldn't 
possibly foresee the circumstances and conditions that might confront 
future generations, and therefore they resisted the temptation to 
micromanage every decision that might be made centuries in the future.

                              {time}  1040

  Instead, they set forth general principles of governance and erected 
a structure in which human nature, itself, would provide guidance in 
future decisions to conform with these principles.
  In crafting a balanced budget amendment, we need to maintain these 
qualities. We shouldn't attempt to tell future generations specifically 
how they should manage their revenues and expenditures in times that we 
cannot comprehend. The experience of many States that operate under 
their own balanced budget amendments tells us that the more complicated 
and convoluted such strictures become, the more they are circumvented 
and manipulated.
  Many have quoted Jefferson's 1798 letter to John Taylor as support 
for a balanced budget amendment. Here is what he actually wrote:
  ``I wish it were possible to obtain a single amendment to our 
Constitution. I would be willing to depend on that alone for the 
reduction of the administration of our government to the genuine 
principles of its Constitution. I mean an additional article: taking 
from the Federal Government the power of borrowing.''
  What is a balanced budget? It's simply a budget that doesn't require 
us to borrow. So, as Jefferson did, why don't we just say so? Instead 
of trying to define fiscal years, outlays, expenditures, revenues, 
emergencies, triggers, sequestrations, and so on, I hope that we would 
consider 27 simple words:
  ``The United States Government may not increase its debt except for a 
specific purpose by law, adopted by three-fourths of the membership of 
both Houses of Congress.'' That's it.
  Such an amendment, taking effect 10 years from ratification, would 
give the government time to put its affairs in order and to thereafter 
naturally require future Congresses to maintain

[[Page 16450]]

both a balanced budget as well as a prudent reserve to accommodate 
fluctuations of revenues and routine contingencies. It trusts that 
three-fourths of future Congresses will be able to recognize a genuine 
emergency when they see one and that one-fourth of Congress will be 
strong enough to resist borrowing for light or transient reasons. The 
experience of the States warns us that a two-thirds vote is 
insufficient to protect against profligacy.
  Some advocate going much further by establishing limitations on 
spending and taxation as well; but if borrowing is prohibited, there 
exists a natural limit to the ability and willingness of the people to 
tolerate taxation and therefore spending. The real danger is when 
runaway spending is accommodated and made possible by borrowing, which 
is simply a hidden future tax. The best and most effective way to 
invoke that natural limit is with a simple prohibition.
  At the end of the week, I will introduce this 27-word amendment and 
will ask my colleagues to consider it with the many others that are 
currently before the Congress.
  As I said, I like virtually all of them, as they all accomplish the 
purpose of restraining the reckless deficits that our generation has 
produced; but in drafting an amendment to guide not only this 
generation but all of those to follow, I would hope that we would do as 
the Constitutional Convention would have done had it had the benefit of 
Jefferson's wise counsel: to set down the general principle only and 
allow future generations, with their own insights into their own 
challenges, to put it to practical effect.

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