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Former Governors Call
for Balanced Budget
The long-term answer to the U.S. debt crisis is a balanced budget amendment, that was the message delivered in floor speeches by four former governors now serving in the U.S. Senate. Senators Jim Risch (R-Idaho), Lamar Alexander (R-Tenn.), John Hoeven (R-S.D.) and Mike Johanns (R- Neb.) each discussed the budgeting process they undertook as chief executive in their respective states and how it differs from the current process in Washington.
A balanced budget would have to pass both houses of Congress by a 2/3 majority and be approved by 3/4 of states before being added to the Constitution. The current proposal is co-sponsored by every Republican senator, but senators on both sides of the aisle have voiced support for a balanced budget amendment. A vote on the issue is anticipated in the next two weeks.