Bill Pascrell: “I thank the gentleman. ``The fact that State governments need to work against these effects in their own budgets--need…”

“I thank the gentleman. ``The fact that State governments need to work against these effects in their own budgets--need to take action to raise taxes or cut spending in recessions--undoes the automatic stabilizers, essentially, at the State level. Taking those away at the Federal level risks making the economy less stable, risks exacerbating the swings in business cycles.'' We did it together, Democrats and Republican, '98, '99, 2000. We did it without an amendment to the Constitution, which will undermine this institution that we so revere right here today.”