Balancing the Budget: Hearing Before the Subcommittee on Constitutional Amendments of the Committee on the Judiciary, United States Senate, Ninety-fourth Congress, First Session, on S.J. Res. 55 ... S.J. Res. 93 ... September 23 and October 7, 1975 |
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American American Conservative Union appropriations Assembly of Maryland balance the budget balanced budget balanced federal budget believe bill billion borrowing budget deficits capital markets Chairman citizens Committee CONGRESS THE LIBRARY constitutional amendment costs deficit financing deficit spending dollars economic economists effect estimated expansion Federal debt Federal deficits Federal Government Federal revenue Federal spending fiscal policy fiscal responsibility fiscal rule funds government spending Governor growth hearings House income tax increase inflation inflationary interest rates investment Joint Resolution 55 Labor legislation legislatures LIBRARY OF CONGRESS ment money supply national debt percent period President problem productivity programs progressive tax proposed amendment proposed constitutional amendment receipts recent reduce require a balanced result S.J. Res Senate Joint Resolution Senator CURTIS Senator SCOTT Senator THURMOND South Carolina statement surplus surtax taxpayers Thank tion Treasury U.S. Constitution U.S. Senator unemployment United vote
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Page 197 - Extensive hearings followed before the House Committee on Ways and Means, and the Senate Committee on Finance.
Page 3 - I have a number of questions that I would like to ask the Secretary but if the Secretary has not the time I will defer it.
Page 190 - ... party disputes and personal quarrels are the great business of the day; whilst the momentous concerns of an empire, a great and accumulating debt, ruined finances, depreciated money, and want of credit, which in its consequences is the want of everything, are but secondary considerations, and postponed from day to day, from week to week, as if our affairs wore the most promising aspect.
Page 81 - The Legislature shall not in any manner create any debt or debts, liability or liabilities which shall, singly or in the aggregate, with any previous debts or liabilities, exceed the sum of three hundred thousand dollars, except in case of war, to repel invasion or suppress insurrection...
Page 37 - The legislature shall provide for an annual tax sufficient to defray the estimated expenses of the state for each year ; and whenever the expenses of any year shall exceed the income, the legislature shall provide for levying a tax for the ensuing year, sufficient, with other sources of income, to pay the deficiency, as well as the estimated expenses of such ensuing year.
Page 168 - Third. The Legislature may, from time to time, enact such laws, not inconsistent with this Section, as may be necessary and proper to carry out its provisions. Fourth. In the event of any inconsistency between any of the provisions of this Section and any of the other provisions of the Constitution, the provisions of this Section shall prevail.
Page 168 - Each Supplementary Appropriation Bill shall provide the revenue necessary to pay the appropriation thereby made by a tax, direct or indirect, to be laid and collected as shall be directed in said Bill; (3) No Supplementary Appropriation Bill shall become a law unless it be passed...
Page 37 - The Legislature shall provide for an annual tax sufficient to defray the estimated expenses of the State for each year; and whenever the expenses of any year shall exceed the income, the Legislature shall provide for levying a tax for the ensuing year, sufficient, with other sources of income, to pay the deficiency, as well as the estimated expenses of such ensuing year.
Page 168 - Article 3 of the Constitution or of any laws heretofore or hereafter passed in pursuance thereof, or be construed as preventing the Governor from calling extraordinary sessions of the General Assembly, as provided by Section 16 of Article 2, or as preventing the General Assembly at such extraordinary sessions from considering any emergency appropriation or appropriations.
Page 34 - If social programs continue growing for the next two decades at the same pace they have in the last two, we will spend more than half of our whole Gross National Product for domestic social programs alone by the year 2000.