Larry Craig: “those economists are representing almost every major economic school in the United States. They are not politicians.…”

“those economists are representing almost every major economic school in the United States. They are not politicians. They are not legislators. They are not crafters of a constitutional amendment. That is not their business. Their business is to crunch numbers, to look at the whole of the U.S. economy in a microsense or macrosense and say: Here is what it is, and here is what it is going to do. What they are saying is that we are in trouble, and they are endorsing a balanced budget amendment. Why? As a court of last resort. Maybe some of them are there. But I think most of them really do recognize the fact, as the Senator from Kansas and I recognize, that what we have done is not working, that there is without question, without any measurement of the mind or the imagination, the fact that we have failed and we are continuing to fail. And the debt gets bigger and the obligation on future generations becomes astronomical. Even this administration admits that a child born in 1994 must pay 82 percent of his or her gross pay over their lifetime to finance Government. That is a testimony of tragedy. Without question, it is. And so, we are a Third World nation. Oh, we have beautiful Government buildings and we have millions of Federal employees.…”