the major issue that we are discussing these days is the balanced budget amendment, and I want to spend a few minutes discussing my thoughts on that amendment. I think everybody in this Chamber would agree that deficits are harmful; that the mountain of debt we have built up is nothing less than shameful. Surely, the Senator from Illinois and others are right on that issue. On whatever side of this constitutional amendment people happen to fall, I would think there is equal strength in feeling that the deficits we have allowed and the debt we have built up as a result of those annual deficits is something which has weakened our economy and is disgraceful in terms of representative government. There is something else that would also be a terrible mistake, though, and that would be to place an illusion or gimmick in the Constitution to pretend that we are addressing something which cannot be addressed successfully in the way it is proposed. It can only be addressed through congressional and Presidential will.
Editor's note · Context
Speaker Levin discusses the implications of the balanced budget amendment and the importance of congressional action.
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