Johnny Isakson: “I appreciate the time. I first thank Senator Hatch from Utah for 16 continuous years of work on the balanced budget…”

“I appreciate the time. I first thank Senator Hatch from Utah for 16 continuous years of work on the balanced budget amendment. It was his fight in 1995 that brought that amendment to the floor within one vote of passing in the Senate, and it is his fight today to bring it back for another vote. I have listened to a substantial number of the speeches, and I come back to three points. Facts are stubborn, and there are three facts: First, we are spending too much; second fact, we are promising too much to our people; and third fact, we are borrowing too much. I ran a real estate company for 22 years. Real estate is all about borrowing and leverage, but you learn a lesson in real estate and you learn it very painfully. There is such a thing as good leverage and there is such a thing as too much leverage, and our country is at the breaking point on leverage. We have a process problem in the Senate and the House. We can't deal with our financial fiscal affairs, our promises to our people or our borrowing, and it is time we change the paradigm.…”