The present invention provides a balloon catheter having an adjustable inner member that allows the balloon to foreshorten on inflation. A balloon catheter (10) comprises a shaft (14, 24) extending in a longitudinal direction and having a proximal end and a distal end and an inflatable balloon (12) positioned along the shaft (14, 24). The balloon (12) includes a portion sealed to the shaft (14, 24) and a portion connected to the shaft (14, 24) and adapted for moving toward the proximal end when the balloon (12) is inflated. An actuator (30) is provided that connects the shaft (14, 24) to the balloon (12). Figures 6, 10 & 11