GOP Presses Congress For Vote On Balanced Spending Budget Amendment

The United States Constitution would have a balanced budget amendment if GOP fantasies came true. Unless they are allowed to bring the well balanced budget amendment to the floor, GOP senators threatened to deny a measure that would raise the debt ceiling, which is necessary to keep away from sending the government into default. Economists dismiss the balanced budget amendment as reckless political theater and chances it would be ratified are nil.

Record surplus changes to record debt by GOP

A well balanced budget amendment bill is one that over a dozen senators are supporting. John Cornyn of Texas and Utah’s Orrin Hatch wrote the bill together. In 1993, 1995 and 1997, Republicans continued to try to get a well balanced spending budget amendment put together. This was in spite of the fact, as estimated by the Congressional Spending budget Office, that there was a $5.6 trillion government surplus by 2001 because of Clinton’s 1993 deficit reduction package. Republicans quit pushing a well balanced budget amendment when Bush took office in 2001. By the fall of 2008 when the financial crisis got to its worse, the federal deficit had reached $10 trillion due to the Republican Congress and Bush pushing for spending more on tax cuts and wars.

Using blackmail to get a well balanced budget

Republicans have started suggesting a well balanced spending budget amendment again. Even Cornyn admits that forcing Congress to vote on such an amendment that has no chance of being ratified is nothing but political theater. Cornyn did make a comment. Human Events website states it to say “Voters would then know, with very stark clarity, which is for a balanced spending budget and who is not, and it could have a big impact on the 2012 elections.” Most are attempting to force the bill to pass. Blackmail is being used in this. In exchange for allowing the federal debt ceiling to exceed its current $14.2 trillion cap, which a fragile global economic recovery depends on, Republicans are demanding that Congress vote on a balanced spending budget amendment.

Support is limited for amendment

Among other fantasies, the Republican balanced spending budget amendment prohibits tax hikes. The last time the GOP tried the stunt, Clinton’s Treasury Secretary, Robert Rubin, warned that if an amendment was in force, a recession could easily turn into something worse. The conservative American Enterprise Institute calls the well balanced budget amendment “the most irresponsible action imaginable.”. The economic stabilizers like joblessness which is needed would be eliminated according to the Center on budget and Policy. Since 1788 when the U.S. Constitution was ratified, there was a reason there have only been 27 amendments to make it. There has to be a yes vote from at least 38 states after two thirds of both the House and U.S. Senate have voted yes.

Information from

CNN Money
money.cnn.com/2011/03/29/news/economy/balanced_budget_amendment/?cnn=yes

Perrspectives
perrspectives.com/blog/archives/001775.htm

Investors.com
investors.com/NewsAndAnalysis/Article/567387/201103281851/Budget-Balance-By-Law.htm