OCR Text |
Show Utah Joins In Seeking Balanced Federal Budget Utah joined 29 other states this year in requesting that the U.S. Constitution be amended to require a balanced Federal budget. Action Ac-tion by only four more states could force a constitutional convention to consider such an amendment. UTAH Foundation, the private research organization, organiza-tion, has just released a study pointing out that the Federal budget has been balanced only nine times since 1930, while Federal deficits have been registered a total of 40 times. . During this period, deficits have exceeded surpluses by $620 bil'; with $37" u'lliur. of these deficits coming during dur-ing the past 18 years and $248 billion during the past five years. Prior to 1930, the Federal budget was balanced in approximately two-thirds of the years. ACCORDING to the Foundation Foun-dation study, advocates of the balance budget amendment contend that this constitutional constitu-tional amendment is needed to control excessive government govern-ment growth and reduce inflationary pressures. They maintain that deficit financing financ-ing has allowed politicians to curry public favor with new spending programs but avoid public displeasure that comes with the imposition of new or higher taxes. They contend that the financing of these deficits by the printing of more money has become one of the major causes of inflation. OPPONENTS, on the other hand, claim that such a constitutional cons-titutional amendment would destroy the flexibility needed to deal with rapidly-changing developments in an uncertain world. Moreover, they point out that the U.S. Constitution is a bnef statement ,.. 'a' pnnc pies anH -:' a"1 "'her amejj- complicate the r ! unti. it beco ;-- ha" a textbook finance. 011 P.: FOUNDATION , point out that a ;!i H-wLto , budget-balanci e f; , Th's group, wh,eS- ! ngtheconstitu, 1 nt 'or a balance ; ' Sieves ial government grow, K best controlled by 1 ending l,d 0go expenditures. t: This third group, has proposed a i: amendment which, i future budget increase,':, growth in thegros ; product. " AMENDMENTS to i, Constitution mav be jl' either by Congres Z nvo-th,rdsofthemeX' both Houses vote there'-r there'-r by application ol ". Legislatures of two-thm'-the states calling for a c'r-titutional c'r-titutional convention Historically, all of amendments to the L'S r stitution thus far ate-were ate-were proposed by Cons-rather Cons-rather than by the com-I com-I process. In any case hois,. the proposed amenoV .must be ratified bv legislatures of three4r. (38) of the states or tar.' ventions in three-thereof. three-thereof. THE Foundation pom? - that Congress thus far .j been reluctant to props" amendment requim; balanced budget. This:-been This:-been the reason why 3) !. states have taken the tive in applying for a ok tutional convention to pri-such pri-such an amendment. Since the constitutiur. convention procedure never been used since:' drafting of the original k-vention, k-vention, there is considers: uncertainty and fear rtsr. ing the use of this devt Congress maybeprorajic act if the likelihood ofac? titutional convention afte probable. HZ 1 r ' ' |