In fact, most States have the requirement of a balanced budget. So it is a shame that the United States that is overspending so much and that taxes so much does not have the same kind of legal obligation. I guess the gentleman from Connecticut, Mr. Shays, and I are still hoping that the Senate might be successful in passing that balanced budget bill. Somehow something has got to give us the intestinal fortitude to do what is very difficult to do, and that is to cut down on some of the spending in Federal Government.
Nick Smith: “In fact, most States have the requirement of a balanced budget. So it is a shame that the United States that is…”
Editor's note · Context
Discussing the need for a balanced budget requirement for the federal government.
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