Boehner Weighs Balanced-Budget Amendment
Posted by WARREN MOSLER on July 25th, 2011
To show he’s serious, he raises the bar a little higher to get anything passed…
Boehner Weighs Balanced-Budget Amendment
U.S. House of Representatives Speaker John Boehner told fellow Republicans on Sunday that he is considering a balanced-budget amendment to the Constitution as part of a bill that would raise the debt ceiling , a source who heard his message said.
That could be a sign that the Republican-controlled House and the Democratic-controlled Senate remain far apart in tense negotiations to avoid an Aug. 2 default.
A balanced-budget amendment is popular with conservatives and was a central element of a bill that failed in the Senate after passing the House last week.
Boehner told Republicans that he was working on a bill that would “reflect the principles” of that effort but provided few details, according to sources familiar with the call.
The balanced-budget amendment wouldn’t necessarily have to be a part of his bill. Instead, it could merely require the Senate to hold a separate vote on the idea, pressuring moderate Democrats who have voiced support for it in the past.
Democrats and many economists say that requiring the government to balance its books each year would prevent it from responding to recessions or emergencies.
July 26th, 2011 at 3:03 am
How could a balanced budget amendment cover all the slippery holes that Congress uses to hide spending? What would the language of such an amendment look like? How would it actually impact the nation if implemented?
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