What it amounts to is not only have we failed to pass the balanced budget amendment, we are here in deep debate over whether we can take 1 percent out of it. We saw, by failure to pass the balanced budget amendment, very clearly that the value of the dollar against every other industrialized currency throughout the world took a deep dive. The Senator from Georgia talked about it earlier. Now we are further reinforcing the idea throughout the financial communities of the world that we do not intend to reduce the budget. We are simply going to talk about it.
Duncan Faircloth: “What it amounts to is not only have we failed to pass the balanced budget amendment, we are here in deep debate over…”
Editor's note · Context
Discussing the failure to pass a balanced budget amendment and its impact on the dollar's value.
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