View Poll Results: Balanced Budget Amendment - Good Idea? Bad Idea?

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Thread: Balanced Budget Amendment - Good Idea? Bad Idea?

  1. #11
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    Re: Balanced Budget Amendment - Good Idea? Bad Idea?

    If it were balanced over the long-term (the business cycle) as opposed to being balanced on an annual basis, I'd be in support of it.
    Nobody who wins a war indulges in a bifurcated definition of victory. War is a political act; victory and defeat have meaning only in political terms. A country incapable of achieving its political objectives at an acceptable cost is losing the war, regardless of battlefield events.

    Bifurcating victory (e.g. winning militarily, losing politically) is a useful salve for defeated armies. The "stab in the back" narrative helped take the sting out of failure for German generals after WWI and their American counterparts after Vietnam.

    All the same, it's nonsense. To paraphrase Vince Lombardi, show me a political loser, and I'll show you a loser.
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    Re: Balanced Budget Amendment - Good Idea? Bad Idea?

    Quote Originally Posted by VanceMack View Post
    ...... Reaching a 'balanced budget' which allows for, say a 10% overage spending in the event of disaster or war with the provision that taxes increase the following year to pay down the debt is certainly a workable solution.
    No. That money should be put away AHEAD of time, and since there is NO PROVISION in the US Constitution for Federal spending on disaster relief, foreign or domestic, it should be for potential military spending only (in time of war).

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    Re: Balanced Budget Amendment - Good Idea? Bad Idea?

    Good idea, Balancing the budget.

    Bad idea, juggling knives while riding a really tall unicycle and wearing a pink tutu.

    Balanced Budget Amendment - Good Idea? Bad Idea?-3-jpg
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    Re: Balanced Budget Amendment - Good Idea? Bad Idea?

    Quote Originally Posted by Gipper View Post
    Well yeah, but when has Washington ever had a "startiiing...NOW! Go!" mentality? They move slower than a Special Olympics race.

    Frankly, I'd rather seem them outsource the budget to those who know what the hell they're doing, and focus more on trade balancing.
    Thats the point though. People hear 'balanced budget amendment' and dont realize that the passage does not mean the end and collapse of all things financial. It creates a target and path to accomplish the goal. It doesnt mean steering this wildly carreening and out of control economic vehicle straight into a wall.

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    Re: Balanced Budget Amendment - Good Idea? Bad Idea?

    Quote Originally Posted by Tigger View Post
    No. That money should be put away AHEAD of time, and since there is NO PROVISION in the US Constitution for Federal spending on disaster relief, foreign or domestic, it should be for potential military spending only (in time of war).
    Me...Im not overly comfortable with giving congress a 'slush fund'.

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    Re: Balanced Budget Amendment - Good Idea? Bad Idea?

    Quote Originally Posted by VanceMack
    Thats the point though. People hear 'balanced budget amendment' and dont realize that the passage does not mean the end and collapse of all things financial. It creates a target and path to accomplish the goal. It doesnt mean steering this wildly carreening and out of control economic vehicle straight into a wall.
    However, I thoroughly believe that if you put this into the hands of the private sector, given proper parameters, they could do it at pretty close to overnight speed...at least relatively speaking. What would take Washington 3-5 years, I'd have faith in Big Biz doing in 6-9 months.

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    Re: Balanced Budget Amendment - Good Idea? Bad Idea?

    Quote Originally Posted by Gipper View Post
    However, I thoroughly believe that if you put this into the hands of the private sector, given proper parameters, they could do it at pretty close to overnight speed...at least relatively speaking. What would take Washington 3-5 years, I'd have faith in Big Biz doing in 6-9 months.
    I'm not even sure if that's a plausible scenario. Yes, I agree the private sector allocates resources more efficiently than any government-run bureaucracy, but the reason we even HAVE government is because the vast majority of its functions do not belong in the private sector to begin with.

    So I'm not exactly certain what you mean when you say "put the budget in the hands of the private sector," since many in the private sector benefit from that spending anyway. Shall we put regulatory functions in the hands of the private sector? How about homeland and national security? Ya feel me? It's not a plausible scenario. It doesn't even make sense to put the federal budget in the hands of the private sector to begin with.
    Last edited by StillBallin75; 08-23-11 at 01:36 PM.
    Nobody who wins a war indulges in a bifurcated definition of victory. War is a political act; victory and defeat have meaning only in political terms. A country incapable of achieving its political objectives at an acceptable cost is losing the war, regardless of battlefield events.

    Bifurcating victory (e.g. winning militarily, losing politically) is a useful salve for defeated armies. The "stab in the back" narrative helped take the sting out of failure for German generals after WWI and their American counterparts after Vietnam.

    All the same, it's nonsense. To paraphrase Vince Lombardi, show me a political loser, and I'll show you a loser.
    - Colonel Paul Yingling

  8. #18
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    Re: Balanced Budget Amendment - Good Idea? Bad Idea?

    Quote Originally Posted by Gipper View Post
    However, I thoroughly believe that if you put this into the hands of the private sector, given proper parameters, they could do it at pretty close to overnight speed...at least relatively speaking. What would take Washington 3-5 years, I'd have faith in Big Biz doing in 6-9 months.
    That's funny, I'm pretty sure that they'll do whatever they can to put it into their own bank accounts. That's what a lot of them did with the stimulus money.
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    Re: Balanced Budget Amendment - Good Idea? Bad Idea?

    Quote Originally Posted by VanceMack View Post
    Me...Im not overly comfortable with giving congress a 'slush fund'.
    It wouldn't be a slush fund. Until the deficit was gone, it would be REQUIRED to be spent on that. Once the deficit was gone, it would require a DECLARATION OF WAR to touch those funds.

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    Re: Balanced Budget Amendment - Good Idea? Bad Idea?

    Quote Originally Posted by Stillballin
    I'm not even sure if that's a plausible scenario. Yes, I agree the private sector allocates resources more efficiently than any government-run bureaucracy, but the reason we even HAVE government is because the vast majority of its functions do not belong in the private sector to begin with.
    Oh, absolutely. I don't think there's any contention that the vast majority of current government functions can't, or shouldn't be, privatized. However, there are still several that should. In fact, one has been a hot-button for many years. Social Security is a prime example of something that needs privatization. As an accountant, I'd have myself a little wet dream if the IRS was mostly obliterated and large accounting firms (Big 4) handled the bulk of the legwork. I think a lot of regulatory commission could be dissolved if we really wanted to trim fat and work toward a balanced budget.

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