George H.W. Bush: “June 30, 1992 I call upon the Senate today to cut through the procedural obstacles and pass a balanced budget…”

“June 30, 1992 I call upon the Senate today to cut through the procedural obstacles and pass a balanced budget constitutional amendment. Americans overwhelmingly support a constitutional amendment requiring a balanced Federal budget, and for good reason. The debt we accumulate today jeopardizes sustained economic growth and will burden our descendants for generations to come. A balanced budget amendment would help to provide the necessary discipline to our Government, both the legislative and executive branches, to make the difficult budget decisions. Although the House of Representatives earlier this month voted overwhelmingly in favor of a balanced budget amendment, we fell just nine short of the necessary two-thirds majority of House Members voting. I strongly believe that that House vote should not be the end of the line. Senate passage now of the balanced budget amendment would provide an opportunity for the House to reconsider its earlier close vote and, once and for all, move to put in place the fiscal discipline the American people demand.”