Balanced Budget Amendment the answer? Boozman says yes, Pryor no, Part 22(Milton Friedman tells us how to stay free Part 1))

Ep. 10 – How to Stay Free [6/7]. Milton Friedman’s Free to Choose (1980)

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Steve Brawner in his article “Safer roads and balanced budgets,” Arkansas News Bureau, April 13, 2011, noted:

The disagreement is over the solutions — on what spending to cut; what taxes to raise (basically none ever, according to Boozman); whether or not to enact a balanced budget amendment (Boozman says yes; Pryor no); and on what policies would promote the kind of economic growth that would make this a little easier.

I am going to continue this series and mainly include the opinions of Milton Friedman concerning these matters. Today I have included some comments from Milton Friedman from his Film Series “Free to Choose: Episode 10 How to Stay Free,” which addresses several issues concerning how to control our spending.  This is part 1 of this series concerning Milton Friedman’s thoughts from this video clip. 

Boozman Presses Balanced Budget in Maiden Senate address

Arkansas News Bureau

U.S. Sen. John Boozman, R-Ark., used his maiden speech on the Senate floor today to call for passage of a balanced budget amendment.

“We are at a crossroads in our country,” said the freshman Republican from Rogers. “The ‘tax, borrow, spend’ philosophy is not creating jobs; it’s only creating more debt for our children and grandchildren.”

Boozman has signed on as a co-sponsor to a resolution introduced last month by Sen. Richard Shelby, R-Ala., seeking a constitutional amendment requiring a balanced budget not to exceed 20 percent of Gross Domestic Product, a level that has been exceeded since 1941.

Shelby’s resolution, which he has introduced in every session of Congress since 1987, would exempt the balanced budget during wartime.

“Imagine what the country would look like if it had passed when he first proposed it. Now, more than ever, it is an idea that’s time has come,” Boozman said.

Boozman, who was sworn into office in January, spoke for the first time Monday on the Senate floor, following a Senate tradition that freshmen wait several months before delivering their “maiden” address.

Dressed in a blue suit, Boozman stood at his Senate desk and read his prepared address to a nearly empty chamber. Senate Minority Leader Mitch McConnell listened from his desk, legs crossed and head tilted toward Boozman through the speech that lasted less than 15 minutes.

About 150 people, on public tours of the U.S. Capitol, sat quietly in the gallery above the Senate floor. The press gallery was nearly empty save for a single seated reporter and another who walked in briefly during the address.

Aside from calling for fiscal restraint, Boozman offered how inspired he is by the “service, dedication and commitment” of the Arkansas politicians who preceded him such as William Sebastian, who served in the Senate from 1848 until 1861.

“Growing up in Fort Smith, in Sebastian County, we were taught at an early age about William Sebastian. At thirty-six, he was the youngest senator in the 30th U.S. Congress after leading an already distinguished career as a cotton farmer, judge and state legislator,” Boozman said.

Boozman also spoke about the need for the Arkansas delegation to continue its tradition of working together — across party lines — for the good of the state.

“I really believe that our delegation working together will be able to make a difference for the people of Arkansas,” he said.

After the speech, McConnell congratulated Boozman for delivering his first address.

“I was particularly interested in the history lesson of all those who served from Arkansas,” McConnell said.

Boozman left the floor looking a little relieved.

“That’s over,” he said.

Boozman confessed to having a few pre-speech jitters given the weight of Senate tradition.

“It’s a big deal and a tremendous honor to be in that situation,” he said.

Ep. 10 – How to Stay Free [7/7]. Milton Friedman’s Free to Choose (1980)

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