Political Quotes

“paralleling the position of the 1,060 economists who banded together to oppose this constitutional amendment, the 150 organizations that make up the Coalition for Budget Integrity argue that the proposed amendment is likely to damage the economy more than strengthen it. They note that the amendment would require spending cuts or tax increases at just the wrong times. They are concerned that the constitutional amendment would likely limit public investments by failing to distinguish public investment from Government spending and failing to allow for a capital budget. They correctly observe that the constitutional amendment would draw the judicial branch into the determination of fiscal and economic policy and undercut the constitutional principle of majority rule with supermajority three-fifths requirements to raise the debt limit and waive the provisions of the amendment. Mr. President, I also want to commend the honesty of Jack Kemp, who appeared yesterday on the NBC News television program, ``Meet The Press.'' Jack Kemp was quite honest in his appraisal of the so-called balanced budget amendment to the Constitution. Jack Kemp said yesterday on national television: I have never been enamored with putting a budget balanced amendment into the Constitution. . . . I would not vote for the Stenholm balanced budget amendment because it clearly is a trap into which, I think, a future Congress would end up keeping taxes high or raising taxes in a recession. . . .”