Paul S. Sarbanes: “I believe that adding a balanced budget amendment to the Constitution of the United States would be economically…”

“I believe that adding a balanced budget amendment to the Constitution of the United States would be economically impractical, indeed under some circumstances dangerous and constitutionally irresponsible. The amendment would have the very substantial risk of promoting instability, retarding economic growth, and shifting the basis of our democracy from majority to minority rule. The amendment raises unanswerable questions concerning implementation. It would invite either fiscal paralysis or court intervention in the conduct of economic policy. Madam President, the Constitution is the guiding charter of our Government defining the basic structure of our democracy and the political and civil liberties of our citizens. It does not establish specific policies out of a belief that those policies should be shaped by the people and their elected representatives in the times in which they live. Because the Constitution distinguishes between universal principles and the specific policies of the day, the Constitution has endured for over two centuries, despite dramatic changes in American society. The Federal budget, on the other hand, is rewritten on a yearly basis to address evolving national goals.”