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Budget Restraint Measure Merits Consideration

Click to see original imageWith the increased clout of Republicans in Congress, the climate may be ripe for a measure to limit or eliminate deficit federal spending. Proposals for mandating a balanced budget have been discussed in many quarters in the past few years. It is understood approximately 30 states are moving toward constitutional conventions to write such an amendment. Now comes a joint resolution – introduced in the House of Representatives – calling for a constitutional amendment that would require a two-thirds vote of each house to adopt a budget which calls for red ink spending. This less stringent approach was offered by Rep. Robin L. Beard. R-Tenn. word from his office indicates Sen. Richard G. Lugar, R-Ind. will submit a similar resolution in the Senate. The two lawmakers introduced their respective measures in the 96th Congress, but they were buried in the judiciary committees controlled by the Democrats. Beard. in a statement accompanying his resolution. said; “ln the past 51 years. the federal budget has been in deficit 42 times. This half-century of fiscal irresponsibility by the federal government is directly responsible for the serious trouble our economy is now experiencing.” He might have noted further that the last time Congress balanced the budget was in 1969 – and the last time before that. 1960. The congressman deplored the “chronic inflation” which has atflicted the economy. particularly in the past decade. To sharpen the focus on that specter. the inflation rate was 13.3 percent for 1979. 12.4 percent in 1980. and generally is being forecast at about 12.5 percent for this year. The extent of actual proposals and future debate are yet to be determined. of course. Obviously one of the strong arguments for the Beard-Lugar approach (a two-thirds vote) is its flexibility in an emergency. “I believe it is more workable than an amendment simply mandating a balanced budget or holding spending to a certain percentage of the gross national product.” said the Tennessee congressman. “My amendment allows for deficit spending whenever there is a clear consensus that it is needed. such as during wartime.” Simply. this plan would require that whenever cong r e s s ta k e s t h e economically Y questionable step of spending in deficit. it does so as the result of a broad consensus. not a mere 50 percent plus one majority. The record of the past half century ought to make it clear that some type of measure is needed to insure budgetary restraint. As Beard said: “A balanced budget must become a reality. not an ideal which is invoked only at election time.”‘