Bill Clinton: “in crafting our delicate system of checks and balances, our Founding Fathers vested in Congress what is commonly…”

“in crafting our delicate system of checks and balances, our Founding Fathers vested in Congress what is commonly referred to as the ``power of the purse''--control over raising revenue and appropriating funds. While the virtue of Congress abdicating some of its budget responsibility to the president is a subject of worthwhile debate, the construct of Senator Gregg's Second Look at Wasteful Spending Act of 2007 does little to return much needed fiscal discipline to our budget process. And while I support efforts to rein in our spending and to solve our Nation's budget woes, Senator Gregg's amendment would create a system far too susceptible to abuse. The Gregg amendment's weakness is in its construction. Up to four times a year, the President could package his or her proposed rescissions in any manner he or she chooses, selecting and combining provisions from any number of bills. Among the Gregg amendment's most significant flaws are the timetables it imposes. The amendment would give the President up to 1 full year after enactment of a provision to submit a rescission request. Even in the event that Congress rejects the President's request, the legislation still gives the President the power to defy the congressional vote and withhold spending for a program for up to 45 days.”