View Poll Results: Balanced Budget Amendment

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  • Yes

    15 48.39%
  • No

    14 45.16%
  • Not Sure

    2 6.45%
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Thread: Balanced Budget Amendment

  1. #51
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    Re: Balanced Budget Amendment

    Quote Originally Posted by Neomalthusian View Post
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    Re: Balanced Budget Amendment

    I don't believe that a strictly balanced budget is necessarily a good idea. It doesn't leave enough wiggle room. Instead, I'd like to see limits that allow a little deficit spending when it's necessary, but keep it in check. For example, allow deficit spending, but never more than say 10% of the budget, and don't allow deficit spending to go on for more than X number of years in a row. And set a hard cap on the national debt as a portion of GDP.
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  3. #53
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    Re: Balanced Budget Amendment

    Quote Originally Posted by Dagger View Post
    What do you guys think about a Balanced Budget Amendment to the constitution? Personally I think it would be a great amendment except for the fact that Democrats and some Republicans would relentlessly raise taxes to comply with the amendment. A possible solution to this is have a 5 year fixed tax rate, basically saying the government cant raise taxes in order to comply with the balanced budget amendment unless there is a 3/4 majority to do so. Also, congress members would get a pay cut if the budget wasnt balanced in time.

    Thoughts?
    I would be against such an amendment. The budget is purely a political animal. Requiring a political body; that already doesn't care about the welfare of the country, to balance such a thing will only invite more financial interloping for foreign bodies.
    “The people do no want virtue; but they are the dupes of pretended patriots” : Elbridge Gerry of Mass; Constitutional Convention 1787

  4. #54
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    Re: Balanced Budget Amendment

    Quote Originally Posted by molten_dragon View Post
    I don't believe that a strictly balanced budget is necessarily a good idea. It doesn't leave enough wiggle room. Instead, I'd like to see limits that allow a little deficit spending when it's necessary, but keep it in check. For example, allow deficit spending, but never more than say 10% of the budget, and don't allow deficit spending to go on for more than X number of years in a row. And set a hard cap on the national debt as a portion of GDP.
    What departments/programs would you be willing to abolish to make this happen?

  5. #55
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    Re: Balanced Budget Amendment

    Quote Originally Posted by Neomalthusian View Post
    There really is no limit to how much you people would borrow and spend or how quickly you'd borrow and spend it, is there?
    When millions of contruction workers are out of work and America has 100's of bridges that need repair it's a no-brainer that we should do that work now. We borrowed to build bridges in Iraq but not in our own country?
    If you were worried about debt you would support David Stockman's one time wealth tax on the top 5%. just 15% would cut our debt in half overnight. It's not about debt it's about cutting programs you don't like. You wouldn't be a Republican if you didn't approve of more and more debt. You saw the chart I posted didn't you?

  6. #56
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    Re: Balanced Budget Amendment

    Quote Originally Posted by iguanaman View Post
    When millions of contruction workers are out of work and America has 100's of bridges that need repair it's a no-brainer that we should do that work now. We borrowed to build bridges in Iraq but not in our own country? If you were worried about debt you would support David Stockman's one time wealth tax on the top 5%. just 15% would cut our debt in half overnight.
    You ignore my responses to that stupid idea every time you bring it up. Many of the top 5% in terms of wealth are average retirees who accumulated their wealth for retirement. The uber rich are not the top 5%. The uber uber rich are the top tenth of one percent. As I have said before, if you really want to screw the elderly while reducing deficits, just abolish Medicare.

    It's not about debt it's about cutting programs you don't like. You wouldn't be a Republican if you didn't approve of more and more debt. You saw the chart I posted didn't you?
    Nice try. I'm not a Republican. The reason I am not a Republican is because almost all of them are just about as fiscally idiotic as their counterparts on the left.
    Last edited by Neomalthusian; 07-16-12 at 06:49 PM.

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    Re: Balanced Budget Amendment

    Quote Originally Posted by Neomalthusian View Post
    What departments/programs would you be willing to abolish to make this happen?



    I would like to see all Federal Spending reduced to the levels of 2008. If a program or expenditure did not exist in 2008, cut it completely.

    All wage rates and head counts cut back to the levels prevailing in 2008. Real dollars. Not adjusted for inflation. That is a good placed to start.

    Once that is accomplished, reduce all expenditures by 10%. All of them. No exceptions.

    From that point forward, no shopping cart legislation. One particular bill presented and approved at a time. If there are 1000 projects in the highway bill, then vote on each one of them. Make every expenditure based on 0 baseline budgeting. If there is anything to be spent, then make the vote on that one thing.

    Since the Senate can only pass about 60 bills per year, 30 if Ried is in charge, we'd balance the budget in no time at all.

  8. #58
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    Re: Balanced Budget Amendment

    Quote Originally Posted by ChunkySalsa View Post
    I agree with the basic Keynesian principle of deficit spending during recessions and paying down the debt during the booms. A balanced budget amendment would tie their hands and prevent the government from moderating the excesses of the market. We should work to balance the budget, but preventing unemployed people from rioting in the streets is a higher priority.
    When there's a downturn, which will happen from time to time, revenues go down. Raising taxes is a bad idea, as are large spending cuts. Both of those things tend to have a negative effect on an economic recovery.

    Revenue should go up when the economy bounces back, and that's the time to start trimming government. Ironically, it's the opposite of business. If you trim government when times are good, then you start with a smaller government at the next downturn.

    The problem in the US is that the two major parties are mostly only good at growing government. Last time there was growth, taxes were slashed and spending wasn't. So the hole is bigger because now we're in a situation where we shouldn't be raising taxes or cutting spending.


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    This issue has been plowed more times than Paris Hilton.
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  9. #59
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    Re: Balanced Budget Amendment

    Quote Originally Posted by code1211 View Post
    I would like to see all Federal Spending reduced to the levels of 2008. If a program or expenditure did not exist in 2008, cut it completely.

    All wage rates and head counts cut back to the levels prevailing in 2008. Real dollars. Not adjusted for inflation. That is a good placed to start.

    Once that is accomplished, reduce all expenditures by 10%. All of them. No exceptions.

    From that point forward, no shopping cart legislation. One particular bill presented and approved at a time. If there are 1000 projects in the highway bill, then vote on each one of them. Make every expenditure based on 0 baseline budgeting. If there is anything to be spent, then make the vote on that one thing.

    Since the Senate can only pass about 60 bills per year, 30 if Ried is in charge, we'd balance the budget in no time at all.
    Why 2008? There was a deficit then, too. Deficit spending is not something that Obama suddenly thought of one day. It's been going on for years, and has been out of control since the '80s.

    Why in one paragraph do you propose something that would grind the wheels of government to a halt (voting on every expenditure individually), then in the next you criticize Harry Reid for not whipping them through? Which do you want? (Also, FYI, if the Senate did pass bill after bill, they'd have to be passed by the House also before becoming law. What do you think the chances of that are right now?)

    Also, "adjusted for inflation" is real dollars. Today we think the dollar store is a great bargain. In 1950, it would have been a colossal rip-off.
    Last edited by rocket88; 07-25-12 at 12:30 PM.


    Quote Originally Posted by Jetboogieman View Post
    This issue has been plowed more times than Paris Hilton.
    Quote Originally Posted by Oborosen View Post
    Too bad we have to observe human rights.

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    Re: Balanced Budget Amendment

    My caveat to a balanced budget amendment would, like many others, include an exception during Declared War but I would also put a mandatory defence spending clause. Say around 5% of the GDP during peace time. A properly maintained, equiped and trained military is a necessity.

    Clinton and the Republican congress did finally balance the budget, but it decimated the military. Under Clinton, the military did not replace antiquated systems, maintenance cost continued to rise on these old systems while the budget was cut. This led to most, if not all organisations having a part of it's inventory non functional as parts were moved to keep other systems working. Some Naval Aviation units were unable fly for long periods of time because they had no fuel or maintenance budgets for up to 6 months at a time. Live fire weapons training, in the Air Force at least, was restricted to only those deploying, and even then only once every two years, the security police had slightly different training models.

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