Tags: Economic- Crisis | Judd Gregg | debt ceiling | balanced budget | deficits

GOP's Gregg: Don’t Link Debt Ceiling to Balanced Budget

Monday, 13 Jun 2011 12:43 PM

By Dan Weil

Some Republicans in Congress don’t want to sign on to an increase in the debt ceiling unless it is accompanied by a balanced-budget amendment. One Republican who no longer is in Congress, former New Hampshire Sen. Judd Gregg, disagrees.

Judd Gregg, debt ceiling, balanced budget, deficits
Judd Gregg
“Don’t make the perfect the enemy of the good,” Gregg writes in The Hill.

“One of the best ways to guarantee that there will not be a balanced budget or a fiscally responsible initiative is to condition action on a debt-ceiling increase on passage of a constitutional amendment requiring a balanced budget.”

It is highly unlikely that a balanced-budget amendment will make it through the hurdles of a 60 percent majority in the House and Senate, not to mention ratification by 37 states, Gregg notes.

“Does anyone really believe this is a viable option when the threats we face from excessive spending, deficits, and debts mount on a yearly basis at astronomical rates?”




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