    [Weekly Compilation of Presidential Documents Volume 33, Number 10 (Monday, March 10, 1997)]
    [Pages 283-284]
    [Online from the Government Publishing Office, www.gpo.gov]

    <R04>
    Statement on Senate Action on the Balanced Budget Amendment

    March 4, 1997

        I am pleased that the Senate has heeded the warnings of eminent
    economists and constitutional experts from across the political
    spectrum, and defeated the balanced budget constitutional amendment.
        At the same time, let me be clear: While I oppose a constitutional
    amendment, I am committed to achieving the bipartisan goal of balancing
    the budget by 2002. Last year,

    [[Page 284]]

    I sent Congress a plan to balance the budget, and I submitted a balanced
    budget plan again a few weeks ago.
        The constitutional amendment could have caused or worsened
    recessions, permitted a minority of legislators to hold the Nation's
    creditworthiness hostage, involved unelected judges in spending and tax
    policy, and threatened Social Security and other vital benefits.
        Now that the amendment vote has taken place, I call on Congress to
    join me in passing a plan to balance the budget by 2002 while protecting
    our values, strengthening education, and providing targeted tax relief
    to working families.
        At the end of Congress' last session, we saw several instances of
    productive bipartisan cooperation. I hope that we can continue this
    spirit of bipartisanship and make progress for the American people by
    reaching agreement on a balanced budget plan this year. All it takes is
    their votes and my signature.
        It's time to do the real work of balancing the budget.