What I Think Tank

A Little Historical Afterthought

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Time: 1995. Place: Washington. Event: 104th U.S. Congress, 1st Session, Vote# 98

Fronted by the Republican Party in 1995 as part of the Contract With America, a vote had passed in the House of Representatives for an amendment of the Constitution that would require the federal government to keep a balanced budget unless it was sanctioned by a 3/5 majority vote in both houses of Congress. It were to be rejected in the Senate, where the amendment was 2 votes short of the 2/3 majority vote needed.

What do I think? 33 Democrats voted against the amendment out of spite after the Republican landslide of 1994, and 2 Republicans voted against the amendment out of political stupidity. With a federal government literally unable to issue deficit spending budgets, this amendment could have kept the Bush administration from waging expensive undeclared wars and could have kept the Obama administration from introducing gross economic interventions. This means that a coming depression likely worse than the Great Depression of the 1930s could have been avoided had it not been for 35 individuals in Washington. Thanks.

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