August 01, 2011 10:01 am ET - by Media Matters Action Network
Sunday's political talk shows focused exclusively on a possible debt ceiling increase deal being negotiated between the White House and congressional Republicans. Senate Minority Leader Mitch McConnell (R-KY), who appeared on two separate shows, repeated the false claim that the federal government does not have a revenue problem. In fact, revenues are at an all-time low. McConnell also made the misleading charge that corporate tax rates are among the highest in the world.
On both State of the Union and Face the Nation, McConnell proposed adding a balanced budget amendment to the Constitution, a provision that was included in a package passed by House Republicans last week. Rep. Kevin McCarthy (R-CA), the third-highest ranking Republican in the House, also defended the balanced budget amendment on Fox News Sunday, arguing that if a similar effort during the 1990s had been successful, the country would not be having a debt problem. McCarthy pointed to the fact that almost all states have an amendment or statute that requires them to balance their budgets. He failed to mention, however, that many states have been able to balance their budgets or deal with other shortfalls due to assistance from the federal government.
Most importantly, a balanced budget amendment such as the one proposed by Republicans will make the task of balancing the budget more difficult by limiting the ability of legislators to increase revenue in the event of shortfalls.
Read our full fact check HERE.
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