The Balanced Budget Amendment: Hearings Before the Joint Economic Committee, Congress of the United States, One Hundred Fourth Congress, First Session, Parte1U.S. Government Printing Office, 1995 |
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19 percent American balance the budget balanced budget amendment balanced budget requirement Barton believe billion budget deficits CATO Institute Chairman Chimerine Congress constitutional amendment Contract With America deficit reduction discipline economic policies effective enacted Federal budget Federal Government Federal spending fiscal drag fiscal policy flat tax Friedman fund going government spending Governor Allen Governor Merrill H.J.Res Hampshire increase taxes JON KYL legislation limit spending Limitation Balanced Budget line-item veto long-term Mac Thornberry majority ment Milton Friedman Niskanen OPENING STATEMENT outlays pass a balanced President problem programs proposed protection raise taxes Reagan receipts reduce Representative Saxton responsibility Rod Grams Senator Bingaman Senator Craig Senator Grams Senator Mack social security spending cuts spending limit super-majority talk tax cuts tax increases Tax Limitation Balanced tax limitation provision taxpayers Thank there's Thornberry trillion Uhler unfunded mandates Virginia voting rule Washington
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Página 36 - In questions of power then let no more be heard" of confidence in man, but bind him down from mischief, by the chains of the Constitution.
Página 89 - Section 2. Total receipts for any fiscal year set forth in the statement adopted pursuant to this article shall not increase by a rate greater than the rate of increase in national income...
Página 89 - President shall . . . ensure that actual outlays do not exceed the outlays set forth in the budget statement.
Página 92 - The provisions of this article may be waived for any fiscal year in which the United States is engaged in military conflict which causes an imminent and serious military threat to national security and is so declared by a joint resolution, adopted by a majority of the whole number of each House, which becomes law.
Página 91 - ... income in the year or years ending not less than six months nor more than twelve months before such fiscal year, unless a majority of the whole number of both Houses of Congress shall have passed a bill directed solely to approving specific additional receipts and such bill has become law. Section 3. Prior to each fiscal year, the President shall transmit to Congress a proposed statement of receipts and outlays for that year consistent with the provisions of this article.
Página 109 - ... stabilization tool, and by creating pressures on those Federal programs that are needed to help build our economy for the future. In my view, the urgency to reduce the deficit is even greater now than it was in previous years, for the following reasons: 1. Personal savings have declined in the 1980's, despite the supply-side incentives, thus reducing the supply of domestic savings. 2. The flow of capital from Japan, Germany, and other parts of the world, which helped fund our deficits in the...
Página 89 - ... greater than total receipts. The Congress may amend such statement provided revised outlays are no greater than revised receipts. Whenever threefifths of the whole number of both Houses shall deem it necessary, Congress in such statement may provide for a specific excess of outlays over receipts by a vote directed solely to that subject.
Página 18 - STATEMENT OF SENATOR LARRY CRAIG Senator CRAIG. Mr. Chairman, thank you very much for holding this hearing this morning.
Página 109 - Perhaps Congress should have taken the lead on its own, but it was unrealistic to expect 535 Senators and Congressmen, each with their own constituents, to take the lead on a matter like this. The Current Deficit Outlook The Clinton Administration and Congress enacted the most significant deficit reduction package in 1993 since the problem developed. The combination of spending cuts and tax increases enacted will reduce the level of the deficit each year beyond that time.