And So I Go: Yesterday, Today and Tomorrow

» Hatch-Lee Balanced Budget Amendment Is a Win for America

Posted on: April 2, 2011

» Hatch-Lee Balanced Budget Amendment Is a Win for America – Big Government.

Of course the non-thinkers in Washington c an still go ahead and put things “off-budget” but even that can only go so far. All considered this is probably the best bet for the country.  BB

Hatch-Lee Balanced Budget Amendment Is a Win for America

by Ken Blackwell and Ken Klukowski

On Mar. 31, Senators Orrin Hatch and Mike Lee introduced a Balanced Budget Amendment (BBA) to make it a constitutional requirement for Washington, D.C., to end our deficit spending and culture of debt. And our national grassroots organization, Pass the Balanced Budget Amendment, is working with them to compel lawmakers to approve this change to the Supreme Law of the Land.

The BBA requires that the U.S. cannot spend more than it takes in, making the federal government act just like most state governments, and for that matter just like all of you reading this column.

There are a few emergency exceptions, such as allowing two-thirds of the House and Senate to suspend it for a specific reason for one year, with lower thresholds to respond to a military threat to our national security or an official, declared war against a specific nation (not some open-ended or global military operation).

But with the exception of an all-out war, those exceptions only apply if there’s the political will for a supermajority of Congress to support it. If those of us who fought to get the right people elected in 2010 keep those efforts up in 2012 and beyond, then we can finally force Congress to live within its means.

The amendment is cosponsored by all 47 Senate Republicans. This raises eyebrows in that the last time a proposed BBA was voted on, 1997, it enjoyed Democratic support with 66 votes, falling a single vote short in the Senate. (It also means that we need some solid constitutional conservatives to win a few more Senate seats.)

 

A separate story here is Utah’s leading role. That state’s senior senator, Orrin Hatch, designed one version of the BBA. Utah’s junior senator, Mike Lee, designed another. Both senators—one tied as the most senior Republican in the chamber and the other among the newest—then designed a composite version.

The resulting BBA addresses several major economic priorities. In addition to forcing a balanced budget, the BBA caps federal spending at 18% of GDP. It also requires a 60% vote to raise the national debt limit. It requires a two-thirds vote to raise taxes. And in forbids courts from ordering any tax increase. The BBA thus addresses multiple aspects of fiscal policy in a full-spectrum response to America’s debt-and-deficit nightmare.

Utah’s predominance regarding a constitutional amendment is no surprise. Hatch is the former chairman of the Senate Judiciary Committee and was talked up as a potential Supreme Court nominee years ago. Lee is the only former Supreme Court law clerk in the Senate, and is already mentioned as a potential Supreme Court nominee. These two senators may be bookends in seniority and age, but they are the foremost constitutional scholars in the Senate. The Beehive State is well-served on this critical issue by the two men representing them in the U.S. Senate.

The Constitution is extraordinarily difficult to amend, requiring two-thirds of the House and Senate to propose it to the states (that’s 290 and 67, respectively), then three-fourths of the states (38) to ratify it.

To turn the BBA into reality, Senators Hatch and Lee are working with a national grassroots organization, Pass the Balanced Budget Amendment, to organize volunteers in every legislative district in America to mobilize political momentum. One of your authors (Blackwell) is Chairman of this organization, and your other author (Klukowski) is a member of the organization’s National Advisory Committee.

We are very grateful to have Senators Hatch and Lee as Honorary Chairmen. With their leadership, as well as others such as Co-Chairman Ken Buck of Colorado, the BBA has the best chances of passing since America’s fiscal mismanagement began decades ago.

This is not just about economic conservatives. We must balance our national budget for the sake of our children’s future. And our national debt has now become a national security concern as well. This is the perfect fusion of the three legs of the Reagan Coalition, and will benefit all Americans.

There are also serious political implications. The BBA should change the national debate. With several GOP presidential contenders endorsing the idea, this will very likely be an issue for the 2012 elections. Those of us involved at the grassroots level with this issue are determined to make it so.

 

2 Responses to "» Hatch-Lee Balanced Budget Amendment Is a Win for America"

Tonight I saw this news article on Wall Mart CEO warning about Inflation coming ,
http://www.usatoday.com/money/industries/retail/2011-03-30-wal-mart-ceo-expects-inflation_N.htm ,
and I had a Thought about trying to rebuild the fabric of American Communities that might be a way to do it so as to not have to make such a drastic sea change in Trade Policy with China and energy distributors , and that is with a Rebirthing of the Small Business sector in Retail that can reborn the era of the Mom and Pop Retail sector so that opportunity can come back to the main streets of America that can recreate the redistribution of sales of the durable goods sector , creating a tax code and taking the Employment Part of the Federal Reserves dual mandate and placing that back into the Tax Code Restoration Act , these kinds of things would enable these kinds of competitive fields of Free Enterprise to reopen so that Wall mart and The Big Box retail consolidators that are joined at the hip with Asia and lobbying Washington for Trade Policy enabling feature this has to be restructured to allow greater wealth from the retail sector to be redistributed across the American Communities , and Free market Competition be allowed to come back to allow for better capital flows , formation from these flows to be realized and the transactions across a greater swath of society be converted into Equality in these Communities so Tax Revenue stream can be restored at the local , state and Federal levels for our Infrastructure sustainability across the Good Old USA !!!!!

We need more Small Business returning to the Retail sector restoring the Mom and Pop retailers that use to be what created our best forms of wealth redistribution and generated revenue flows for local, state and federal Governments . The Big Box retail sector thats controlling all the durable goods distribution is consolidating the wealth and killing our communities because Wall Street Investment firms want this investment access to the markets . Wall Street Needs to see this in a Different Light , like If these Mom and POP retail businesses could form Associations and be Members of such retail sector associations then they could have the Volume in that form of accounting data that would be a candidate for a ETF trade fund , so in this setting why not have these Small Business associations be offered up as IPOs ?? This would create Competition for the Big Box Retailers , make the cap[ital flows spread out against and increase income distribution , man this needs some debate don’t you think ????

We need to Rethink this strategy by thinking about restoring the Communities with the Old way of the Mom and Pop small Business sector distribution method of Free Enterprise as the fundamental like it was before this Big Box era started , and this be what rebuilds the communities in America with the prosperity thats Freely created and distributed and redistributed multiplying Capital formation and profits which can be converted into equity and tax revenue streams . A Common Sense Plan that would work for everyone , and Wall Street can still Invest in this , just create the Basket that can Include these sectors of Small Businesses within this type of ETF , so the investment can still be done just with the association of small Businesses all joined together in a association that then is Represented in a basket portfolio that a Investment firm can offer a IPO on . This kind of a investment basket of broad based small Businesses in retail or industry related markets can be a great way to Spread Investor Financial Risks out across a broader spectrum and lower overall financial exposure due to the higher number of Independent Operators all having a larger stake in the market place .

Tax code and Trade policy need to be restructured and include the employment accounting arm of the Dual mandate of the Federal Reserve , and this would then place more leverage in the hands of we the people to put pressure on our elected Officials to draft policy that drives the economic self reliant competitive feature of our constitution . the idea of mom and Pop businesses having a shot at being able to buy at the same competitive price in volume as the Big Box retailers are doing can be done by forming associations that all the Mom and Pop retails could then together create a Buying volume equal too what the Multi nationals are doing and this be New Competition that can aspire to create broader capital distribution through the Community at the same level of profit margins as the Multi-nationals are doing .

Also this association that Mom and pop small Businesses can be members of can have the benefit of their association becoming a IPO that can be traded in a ETF type Investment Portfolio so these groups now can have access to funding backed by their product lines for their monthly operating Lines of credit , which the field of banking structures on this can be 30 -90 days , I have seen them on some of these multi-nationals use a 6 month LOC and then these guys buy futures and hedge their operating costs , locking them in when they think prices are going to rise , and this can have a stabilizing effect on the over market giving time for the income flows to trickle down and spread into the communities , see we are not getting this affect with the capital all controlled like it is in to few a hands at the retail level of our economy and this is about all we have left in our capital flows , and it only circulates 2 times Now with the way these Multi nationals are set up with direct imports . We get our pay check and thats most Government funded now , and once we get it we buy from these Big Box guys and that Money goes directly out of the USA and we don’t get it back with trade because our trade Unbalance is 500 Billion in the red has been now for 16 years .

But if we can create these associations with some kind of short term credit funding and this be extended from the association to the small Business Mom and Pop retailer , wholesaler , and industrial small Business Mom and pop sectors too This would spread the risk of business out over a Broader base of enterprise and with the level of competitiveness from this due to the better potential for business prosperity this would improve greater sustainability in the equity traded markets of Wall Street too , because business failure would be absorbed better because of the broader Number of free enterprises involved in the overall market function .
And now it becomes a challenge between quality and who is willing to drive the fundamentals of Uniqueness and style quality and we all benefit and so do the local state and federal revenue streams as capital circulates more than the way it does now . Without capital circulating at least 4-5 times in the society it has no chance to convert to equity any form of credit thats Issued , and this be a sustainable element of how the Capital system works ie Free market bonds both long and short , fixed income is never able to have anything to build on .

When I saw this Picture of Obama drawing on the chalk board I asked myself what is a Constitutional Lawyer doing teaching economics to a bunch of students that are learning about constitutional law ?? Unless it was to learn how to Legally Deconstruct the Capital system , or reverse Engineer it , look at the things on the chalk board they are all about how to merge Private Enterprise together with Government is what I see being drawn out . http://www.theblaze.com/stories/obamas-big-idea-since-our-educational-standards-are-too-rigorous-lets-just-scrap-em/

I believe these Progressive early on long ago saw this as a way to deconstruct the capital System , all they needed was a Trade Policy that would open up the opportunity for fraud to run rampant , which it has with allowing China to manipulate its currency all in their favor and the Multi national Big Box Retailers , and these guys Lobby Congress for the Favor of them Looking the other way on enforcing the Free Floating currency rule that China should have been following which would have pared their currency vale to our dollar way before now with the way our industry and many other countries industries have flowed to China over the years which is what forces free floating currency values up . The evidence of not enforcing Trade rules is in these Statements in the next 4 links , over the years and is why a Renegotiations of both Debt value with China and a Future Trade agreement Must BE Accomplished or its Over for FREEDOM from Totalitarianism . Under the Current WTO Free Trade Policy The continuing process of evacuation of Primary capital wealth out of the USA with the current Trade Policy of One way capital Flows out of the USA and western nations that all are DEPENDENT on Asian Imports , all due to a Unenforced Currency Rule by the WTO trade Partners our USA envoy is at fault too , and this Must be stopped and renegotiated so we can Re calculate a future capital flows Trend , evidence is right here ;

http://online.wsj.com/article/SB123780272456212885.html
http://news.xinhuanet.com/english/2009-04/01/content_11109506.htm
http://www.telegraph.co.uk/finance/currency/8316834/International-Monetary-Fund-director-Dominique-Strauss-Kahn-calls-for-new-world-currency.html
http://www.wnd.com/?pageId=109774
Today we are Under Siege by a Totalitarian force of Coercion over our Capital Origination process under the way Currency Monetary Policy is managed under the Federal reserve and the US Treasury with this due to a willingness to do whatever to retail OPEC Oil priced in Dollars , and we have seen Our Independence to access Financial needs obliterated by this controlling policy , Shariah Law Financing (Wall Street) Selling Our Souls ; http://www.youtube.com/watch?v=12rYtc1Ss9k ,

The Policies of Shariah Finacial Compliance compliment The Progressives Anti supply-side expansion Frame of mind , and will lead we the people to shortages in our vital human needs , cause us major struggles over Inflation and eventually the vitriol from this process will spill over into civil unrest , we can relate this to an era of when the Movement of the Bolsheviks ruled Stalin politically , and we the people must Identify these similarities in policy trends and alter the transgressions towards this type of evolutions . Read these links about the path Stalin and the Bolsheviks followed over a 20 year period to a Humanities Disaster , I believe we are about 10 years into the same transgression of time ;

http://creation.com/a-tale-of-four-countries
http://www.atheismresource.com/2010/stalin-killed-for-political-reasons
http://www.mailonsunday.co.uk/news/worldnews/article-1038774/Holocaust-hunger-The-truth-Stalins-Great-Famine.html

We the people need a Free market fundamental we can work to stay Independent from Government Dependency to alter the Events of when Government becomes the total only source of Vital Human Resource supply , because it does not mix together Politically , this was why the Founders of Freedom were so adamant about a Declaration of Independence that defended the right of Unalienable rights so life , liberty and the pursuit of happiness would not be dominated by a Government Entity and History keep repeating itself .

Putting the Small Business sector of the Mom and Pop Retail Sector back into operation can work to restore the Income inequality we have in America Independently and without the federal Government using a statist approach , and getting to much control over our lives vital needs and our ability to supply these vital needs . This is what they are trying to do , this is how eugenics is installed , eugenics is nothing more than a WAR of ATTRITION , and we the people have to be smart enough to see this and react with ideas that can win the majority favor .

And I bet you we will see a return of a Higher quality of Family life that is functional instead of dysfunctional , and communities across America can begin to rebuild their lives . and The Speaker can shed a TEAR of JOY instead of Despair .
Thanks for you time .

Thank you Tony N for this posted comment. Much great information. I don’t wholly agree that the Mom and Pop retail stores had it over the WalMarts and other “big boxes”. Because even Mom and Pops will have to get their goods from overseas anmd will have to pay much more for them than the big buyers!
The reason: Americans don’t manufacture things anymore.

what i think we in America needs is more manufacturing of goods rather than shipping things from China. WalMart at one time had a policy of offering American manufacturers start up money to retool to produce products that were at the time being manufactured overseas and then shipped here. Walmart felt that if they could keep the quality and price stable (even allowing the American goods to cost more up to the cost of shipping) the advantage of shorter wait times for delivery would be well worth the up front costs. the thing is: Wal Mart couldn’t find enough American companies to take them on! Yes. You read that right: Wal Mart wanted to help companies manufacture goods that they then would purchase from them but couldn’t find the companies to do it!

‘Why weren’t there enough American companies willing to go into production of goods that Americans are now buying from China? Taxes is a big problems. corporate taxes are higher in America than any other country in the world. AND, labor costs in America. Labor costs doesn’t mean just the wages paid but also the insurance for healthcare and the workman’s Comp. as well as a slew of other government mandated costs. So given these two factors companies even with Wal Marts help could not compete in price with overseas companies and WalMart if they tried to sell the higher priced American products would not be able to compete with other outlets who continued to sell goods manufactured overseas. The American consumer would continue to purchase where they got the most for their money.

The problem is far more difficult than merely going back to Mom and Pop stores. As I said above: where would Mom and Pop have to get the goods to sell? BB

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