Balanced Budget Amendment

Rep. Foley, Speaker of the House of Representatives, delivered a speech before a luncheon of the National Press Club on the proposal for a balanced budget amendment to the Constitution. Rep. Foley expressed his opposition to such an amendment, citing the failure of either the Reagan or Bush administrations to produce a budget capable of being balanced. He also discussed the existence of a bomb shelter specifically built for Congress and party discipline in the House of Representatives. Following his prepared remarks, Rep. Foley responded to questions from members of the audience.