Source: PRESS RELEASE, 12/14/11
Editor's Note: U.S. Senator Richard Burr (NC) voted against the amendment.

U.S. Senator Kay R. Hagan (NC) released the following statement after voting for the S.J.Res.24 Balanced Budget Amendment.

“Voting to amend the United States Constitution – the foundation of our system of government - is something I consider with great care,” said Hagan. “I wish it was not necessary at all. Unfortunately, partisan bickering and game playing have overwhelmed every effort to come together – Democrats and Republicans – to make the difficult choices the American people expect.

“Former Chairman of the Joint Chiefs of Staff, Admiral Mike Mullen, has called our debt our greatest national security threat.  The whole nation knows we must address the serious consequences of our accumulating deficits.  For this reason, and after great reflection, I voted today to support a reasonable and moderate balanced budget amendment.

“I co-chaired the budget process in the State Senate, and in North Carolina we balance our budget. Our state constitution requires it.  We should balance our budget, responsibly, at the federal level, too.  However, each and every attempt to amend the United States Constitution requires fresh analysis and review. So while I supported the balanced budget amendment offered by my colleague from Colorado, Senator Udall, I could not support the extreme Hatch proposal, which would put our seniors at risk and go much further than simply requiring a balanced budget. That approach would cap federal spending at an artificially low percentage of GDP, which would force drastic cuts and jeopardize bedrock programs including Social Security and Medicare.   It also sets an impossibly high threshold for waiving the balanced budget requirement, meaning that even in times of economic crisis, we would likely not be able to muster the resources needed to respond responsibly.

“The Hatch amendment overreaches. The Udall balanced budget amendment, on the other hand, creates a separate accounting process that ensures Social Security would not be slashed in order to balance the rest of the budget.  This protection for our seniors is absolutely critical.  They've earned it."