View Poll Results: Do you support a balanced budget ammendment to the Constitution?

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  • Yes, we should live within our means.

    17 58.62%
  • No, it handcuffs the government.

    11 37.93%
  • I don't care about it; I have no opinion.

    1 3.45%
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Thread: Balanced Budget Ammendment

  1. #41
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    Re: Balanced Budget Ammendment

    Quote Originally Posted by ricksfolly View Post
    Wrong, private businesses borrow from banks. Government backed business money comes from taxes. Banks have no capital shortage, but they only loan to low risk companies and people. Other than Federal deposit insurance (FDIC) limit, the Government has no other connection with private banks.

    ricksfolly
    Private businesses also get money from investors. Try again.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

  2. #42
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    Re: Balanced Budget Ammendment

    Quote Originally Posted by samsmart View Post
    I won't dispute that with you. Which is why we also need to be more efficient about the things the federal government spends money on. But that particular issue won't be fixed by a balanced budget amendment either. That would require separate reforms.
    certainly agreed.

  3. #43
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    Re: Balanced Budget Ammendment

    Quote Originally Posted by ricksfolly
    Wrong, private businesses borrow from banks. Government backed business money comes from taxes. Banks have no capital shortage, but they only loan to low risk companies and people. Other than Federal deposit insurance (FDIC) limit, the Government has no other connection with private banks.
    really?

    in that case, I demand to know who this guy is really, and why the hell they won't shut up about him on my television:




    or these people?
    Last edited by cpwill; 05-03-11 at 09:57 PM.

  4. #44
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    Re: Balanced Budget Ammendment

    If the federal government actually only spent money on what is authorized in the Constitution and raise money as per the Constitution then there wouldn't be a need for a Balanced Budget Amendment.

    Quote Originally Posted by ricksfolly View Post
    Wrong, private businesses borrow from banks. Government backed business money comes from taxes. Banks have no capital shortage, but they only loan to low risk companies and people. Other than Federal deposit insurance (FDIC) limit, the Government has no other connection with private banks.

    ricksfolly
    Incorrect since the Federal Reserve Bank is a private bank and controls the entire money supply.
    Last edited by The_Patriot; 05-03-11 at 10:11 PM.

  5. #45
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    Re: Balanced Budget Ammendment

    Quote Originally Posted by Mayor Snorkum View Post
    What's a "temporary amendment" and what articles of the Constitution authorize them?
    Well, they could make a lawchange that overrides the amendment till the war is finished. My point is, when time comes and there is a big war, they will change the amendment to be able to spend more money. They will have the support of both parties.

    Therefore, we could just make a balanced budget amendment to the constitution without any possibilities of opting out.

  6. #46
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    Re: Balanced Budget Ammendment

    Quote Originally Posted by cpwill View Post
    but we've seen how that works too.

    "the budget is balanced. we spend alot of money on goodies right up until i run for reelection, after which we significantly cut spending and raies taxes..... so it's balanced". except the second part never happens.

    given that politicians have 2, 4, and 6 year timelines that they actually care about, and given that the House is both the generator of budgets and has the shortest timeline ; perhaps a two-year balanced budget would work, which ties the second session to the decisions of the first.
    Which is why we should enact term limits. Presidents get a single six year term. Senators max (2) 6 year terms and reps a max (2) 4 year term. Thus we take away their constant perspective focusing on the next election.

    a two year balanced budget suffers from the same problems as a single year.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

  7. #47
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    Re: Balanced Budget Ammendment

    then we just maximize their incentive to use their position to secure themselves a "real" and better paying job in the private sector - Lobbyists of former congresscritters become the de-facto Congress, and we end up encouraging corporatism.

    a 2-year suffers the same problem as a 10-year. at some point you have to draw the line, and if you don't do it in such a way as to match the incentives of the actors to your desired result, then you won't be happy with what you end up seeing.

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