Both versions of a Balanced Budget Amendment (BBA) to theconstitution were defeated today in the U.S. Senate as Democrats remainedcoordinated in their opposition to S.J. Res. 10, the “Consensus” BBA. Thepromising proposal fell by a 47-53 vote strictly along party lines.
S.J. Res. 24, a weak and unrealistic bill loaded withpolitically-motivated exemptions and stipulations, was put forth by Democratsin an effort to nominally support a BBA, and was soundly defeated by abi-partisan 21-79 vote.
The National Taxpayers Union strongly supported S.J. Res.10, a comprehensive measure whose passage would have done wonders to repair ournation’s tattered finances. The bill, authored by Sen. Hatch (R-UT), featuredtaxpayer protections and spending limits (along with exceptions for war andcrisis), in addition to the balanced budget requirement.