Exactly, we have a balanced-budget amendment to the constitution, and we do spend for capital outside of it including bonding. The payment on the interest of the bonds has us in so much trouble we are going to have to strip $1 billion out of the budget of $6 billion. Now, had we had a balanced-budget amendment that included capital expenditures, we would not be in this shape.
Robert Smith: “Exactly, we have a balanced-budget amendment to the constitution, and we do spend for capital outside of it including…”
Editor's note · Context
Discussing the implications of a balanced-budget amendment during a budget debate.
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