Orrin Hatch: “the fight to adopt a balanced budget amendment is a bipartisan one. I congratulate my Democrat colleagues who have…”

“the fight to adopt a balanced budget amendment is a bipartisan one. I congratulate my Democrat colleagues who have argued for the balanced budget amendment. Their support shows that this constitutional amendment is a nonpartisan solution to a nonpartisan problem. Exhibit 1 [From the Washington Times, January 15, 1997] (By James Miller) Giving Credit Where Due for Lower Deficit A week before the election, President Clinton announced the scorecard for fiscal 1996 (which ended Sept. 31): the deficit was $107 billion--lower than any time since 1981. As someone who would easily take credit for a brilliant sunrise or a starry night, Mr. Clinton wasted no time in claiming the deficit record was the product of his ``economic plan.'' Credits aside, the deficit record is very good news indeed. More U.S. saving is available for private investment, and the Federal Reserve is less likely to act in such a way as to restrain the economy. Tragically, had Congress adopted the budget discipline President Reagan recommended in his 1988 budget, the deficit would have been $108 billion and ``going South'' eight years ago. Think of what spending restraint to balance the budget (by 1991) would have meant for economic growth in the meantime! But who should get the credit for the latest deficit figure? Bill Clinton likes to say his tax increase did the trick, although in a moment of weakness he admits he raised taxes too much.…”