Political Quotes

“this morning, in a room just off the Senate floor, a group representing over 450 of our Nation's most distinguished and respected economists--among them seven Nobel Laureates--gathered to express their profound and unequivocal opposition to a constitutional amendment requiring a balanced Federal budget. Their conclusions, based not on partisan proclivities, but on decades of scholarly inquiry in the field of economics, deserve the full attention of the Senate. I ask unanimous consent that a portion of their remarks be reprinted in the Congressional Record. The economic, legal, and political arguments against the balanced budget amendment are powerful, and I hope that these arguments persuade enough Senators to defeat the amendment in the Senate. Nonetheless, it is possible that the proposed amendments will be sent to the states for ratification. My remarks this morning are addressed to state legislators. They can be expressed in one word: Beware! Congress has elected not to include in the draft amendment any limit on the capacity of Congress to place mandates on the states.”