Washington Whispers

Gingrich Sees Balanced Budget Amendment Coming Back

By Paul Bedard

March 1, 2010 RSS Feed Print

Even if President Obama's healthcare reform plan dies in Congress, Republican analysts and pollsters believe that the soaring federal deficit and congressional spending will be the dominating political issues this year, possibly sparking a new call for a constitutional amendment to balance the budget. 

"The balanced budget amendment will come back as a major issue," former House Speaker Newt Gingrich says. "Spending and deficits are now a much bigger issue." 

Gingrich, who came to power after the 1994 election, which put the GOP in charge of the House for the first time in decades, said that the antispending mood in the nation is much more grim than in 1994, owing to the multiple bailouts and the public's concerns about the economy and higher taxes. By just raising the idea of renewing the balanced budget amendment debate, Gingrich is giving House and Senate conservatives a new issue to rally around. A House GOP aide said that if Gingrich is already talking about it, then it won't be long before the Republican Caucus in the House takes up the cause. "He's still the guy we go to for the big ideas," said the aide.

Tags:
federal budget,
Newt Gingrich

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Jack of KS,

While I don't agree with everything you say re. problems in the world, those of us across the political spectrum that are concerned with runaway spending need to unite! You make sense in a lot of areas. I remember my Dad ranting back in the 70's that we needed a Federal balanced budget amendment - if only we had the sense to do it then - do we have the sense & fortitude to do it now? Our leaders have zero incentive to spend our tax dollars carefully - how about some sort of commission structure for our Senators? It's funny how much attention is given to Executive compensation in the private sector - how about studies on the compensation of our elected representatives where our tax dollars are involved?

In the end, my wife & I will be ok. I'm just concerned about our 10 yr old daughter, neices & nephews, & the kind of nation we're leaving them with.

J Cilker of CA 5:47PM July 12, 2010

We the People Still Have the Power

Americans can be pandered to with debates on C-SPAN or by watchdogs in the press. Political strategists can assure us the next election will secure our future. Meanwhile, the political class has learned to manipulate the average voter and bureaucrats have deeply imbedded control over our government.

Yet our founders envisioned even this occurrence and created a mechanism for the people and the States to reassert control over an overpowering federal government.

Article V of the Constitution states: “Congress … on the application of the Legislatures of two thirds of the several States, shall call a Convention for proposing Amendments, …” But what should our State legislatures seek to amend?

The only way to stop the wasteful spending, and its eventual debilitating taxation, is to starve the government machine. To do this, we need a Constitutional Amendment to insure that:

1. Except in time of declared war against a foreign enemy, the federal government shall balance its budget. This budget shall include all cash expenditures and cash revenues for the federal government and all of its dependent agencies. Further, the total cash expenditures of the federal government shall not exceed eighteen percent (18%) of the prior year’s gross domestic product.

2. Included in the budget’s cash expenditures will be an annual payment to retire the national debt. This payment will be not less than 3% of the principal amount of the prior year’s national debt.

3. Any increase in taxes, fees, or other sources of revenue shall require a 2/3 vote of each chamber of Congress. All tax rates and fees as of January 1, 2010 will be re-established and be considered the baseline for any future changes.

4. No unfunded mandates or requirements shall be placed on state or local governments. The costs of all federal laws must be paid by the federal government and be included in the annual balanced budget.

Should the people decide they wish to spend more on certain items, they can petition their State or Local governments. Clearly, we cannot trust politicians. Unless specifically controlled, they will continue to use our money to buy votes for their own re-election. Encourage your state legislature to reassert its authority: call for a constitutional convention and pass these controls.

Please share with others.

www.IAIresearch.wordpress.com

IAI Research of FL 5:54PM March 08, 2010

I am a Jacksonian Democrat. I'd like to see no deficit, but zero out the debt.The Federal Reserve reminds me too much of the old United States Bank that Andrew Jackson opposed and finally put out of business. I wouldn't go that far but the Federal Reserve needs to be far more transparent than it is. The taxpayers need to know every detail what we're paying for and eliminate waste tom the greatest extent possible.

Paulson made the greatest confession: he made the mistake ofm bailing out the big banks without any strings attached and failed to connect Wall Street to Main Street. Well, whoop de do! We should never give another nickel for bailouts and speculation has to be heavily taxed. The president has to be given the line item veto. Defense contracts need to be scrutinized, and contractors like KBR and Halliburton need to be forbidden from working for the government. In fact, billions of dollars can be saved by not employing outside contractors. Working with other nations to prevent violence from happening in the Middle East and other areas of the world, doing away with weapons of mass destruction, create a million+ force to police the world's trouble spots, eventually limiting our military to defeding our nation, will zero out our debt. We have to give up nationalism for the sake of human survival.

Jack Golding of KS 4:31PM March 04, 2010

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