[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.