Christopher Shays: “I do not know who shares more of the blame for our annual budget deficits: The Presidents, for not submitting balanced…”

“I do not know who shares more of the blame for our annual budget deficits: The Presidents, for not submitting balanced budgets to Congress; The Congresses, for not balancing the budgets they approved and sent to the President for signature; The President, for not vetoing the unbalanced budgets he received from Congress; and, Or the members of Congress--on both sides of the aisle--who voted for programs again and again, year in and year out, without providing the funds to pay for them. What I do know is this: Over the next 5 years, our national debt will increase by more than $1.6 trillion, and that's with the President's 5- year budget reduction package passed last year. Entitlements will increase by 41 percent over the next 5 years. This year, our budget deficit will be more than $300 billion. I support the balanced budget amendment offered by Congressman Stenholm recognizing that it is not a panacea. It will not lead to painless elimination of the national debt. Presidents will still have to submit their budgets and Congress will still have to formulate and vote on them. Members would continue to be accountable to their constituents for votes in support of spending reductions and tax increases necessary to comply with the balanced budget amendment. Only through proposing and voting for cuts in Federal spending will the administration and Congress put to rest 18 years of excessive budget deficits and a paralyzing national debt.”