Page 1 of 7 123 ... LastLast
Results 1 to 10 of 65

Thread: Is it Time for a Balanced Budget Amendment for the Federal Government and All States?

  1. #1
    Professor
    Evilroddy's Avatar
    Join Date
    May 2017
    Location
    Canada
    Last Seen
    Today @ 09:28 AM
    Gender
    Lean
    Centrist
    Posts
    2,279

    Is it Time for a Balanced Budget Amendment for the Federal Government and All States?

    The title sort of says it all. An amendment making deficit financing illegal, except in times of declared war, for the governments of all fifty states and the Federal Government. Compliance could be phased in over a five or ten year period but once the cutoff date was reached governments could only spend what they raised in revenues each year. Should this also be applied to municipal and county governments?

    This would also force Administrations to come to Congress for declarations of war if large scale (expensive) military operations were to be conducted. Of course there might also be a perverse incentive to start wars in order to over-spend revenues. But after a few such attempts, I think the American electorate would catch on and put a stop to that.

    So what do Americans think? Is real and enforceable fiscal restraint worthy of a constitutional amendment?

    Cheers.
    Evilroddy.

  2. #2
    Sage
    Perotista's Avatar
    Join Date
    Jan 2013
    Location
    Georgia
    Last Seen
    Today @ 10:51 AM
    Gender
    Lean
    Other
    Posts
    20,571
    Blog Entries
    40

    Re: Is it Time for a Balanced Budget Amendment for the Federal Government and All Sta

    Quote Originally Posted by Evilroddy View Post
    The title sort of says it all. An amendment making deficit financing illegal except in times of declared war for the governments of all fifty states and the Federal Government. Compliance could be phased in over a five or ten year period but once the cutoff was reached governments could only spend what the raised in revenues. Should this also be applied to municipal and county governments?

    This would also force Administrations to come to Congress for declarations of war if large scale (expensive) military operations were to be conducted. Of course there might also be a perverse incentive to start wars in order to over-spend revenues. But after a few such attempts, I think the American electorate would catch on and put a stop to that.

    So what do Americans think? Is real and enforceable fiscal restraint worthy of a constitutional amendment?

    Cheers.
    Evilroddy.
    I'm all for it. I was for it way back when Reagan first proposed it.
    This Reform Party member thinks it is high past time that we start electing Americans to congress and the presidency who put America first and their political party further down the line. But for way too long we have been electing Republicans and Democrats who happen to be Americans instead of Americans who happen to be Republicans and Democrats.

  3. #3
    Banned
    Join Date
    Feb 2017
    Location
    Midwest USA
    Last Seen
    08-15-18 @ 12:45 AM
    Gender
    Lean
    Independent
    Posts
    10,023

    Re: Is it Time for a Balanced Budget Amendment for the Federal Government and All Sta

    Quote Originally Posted by Evilroddy View Post
    The title sort of says it all. An amendment making deficit financing illegal, except in times of declared war, for the governments of all fifty states and the Federal Government. Compliance could be phased in over a five or ten year period but once the cutoff date was reached governments could only spend what they raised in revenues each year. Should this also be applied to municipal and county governments?

    This would also force Administrations to come to Congress for declarations of war if large scale (expensive) military operations were to be conducted. Of course there might also be a perverse incentive to start wars in order to over-spend revenues. But after a few such attempts, I think the American electorate would catch on and put a stop to that.

    So what do Americans think? Is real and enforceable fiscal restraint worthy of a constitutional amendment?

    Cheers.
    Evilroddy.

    anyone else see where this would go? we would be at war forever just to keep the endless money spigot open .........

  4. #4
    Presidential Candidate
    Southern Dad's Avatar
    Join Date
    Aug 2014
    Location
    Shady Dale, Georgia
    Last Seen
    Today @ 11:03 AM
    Gender
    Lean
    Very Conservative
    Posts
    2,931

    Re: Is it Time for a Balanced Budget Amendment for the Federal Government and All Sta

    The problem with this is what gets cut? The Democrats will want to cut defense, the Republicans will want to cut social programs. No one will agree. Everything will be a “poison pill”.

  5. #5
    The Dude
    Kobie's Avatar
    Join Date
    Sep 2013
    Location
    Western NY
    Last Seen
    Today @ 09:58 AM
    Gender
    Lean
    Liberal
    Posts
    46,492

    Re: Is it Time for a Balanced Budget Amendment for the Federal Government and All Sta

    No. Deficit spending is not always the worst thing in the world.
    Freedom of speech is not freedom from criticism.

  6. #6
    Professor
    Evilroddy's Avatar
    Join Date
    May 2017
    Location
    Canada
    Last Seen
    Today @ 09:28 AM
    Gender
    Lean
    Centrist
    Posts
    2,279

    Re: Is it Time for a Balanced Budget Amendment for the Federal Government and All Sta

    Quote Originally Posted by cuban smokes View Post
    anyone else see where this would go? we would be at war forever just to keep the endless money spigot open .........
    cuban smokes:

    The US is already in a defacto state of near perpetual war already. This would "out" the militarism and make the Congress explicitly endorse it. Then the electorate could see who voted for war and toss their hawkish butts to the curb. I agree that the perverse incentive is there but I think the countervailing pressure to not keep voting for war or face the wrath of the American electorate every two years would impose a discipline on Congress to not rubber-stamp war. If that became a problem then maybe a clause in the balanced budget amendment that Congressional salaries and campaign war chests must be cut by 30% in any year that a war is declared or being fought (as Congresses part in the war effort) might constrain abuse of this.

    Cheers.
    Evilroddy.

  7. #7
    A Little Bitter
    Mr Person's Avatar
    Join Date
    Oct 2015
    Location
    Massachusetts
    Last Seen
    Yesterday @ 10:32 PM
    Gender
    Lean
    Slightly Liberal
    Posts
    19,688

    Re: Is it Time for a Balanced Budget Amendment for the Federal Government and All Sta

    No.

    It is a ridiculously short-sighted means of rendering one's government unable to deal with emergencies without causing others.

  8. #8
    Presidential Candidate
    Southern Dad's Avatar
    Join Date
    Aug 2014
    Location
    Shady Dale, Georgia
    Last Seen
    Today @ 11:03 AM
    Gender
    Lean
    Very Conservative
    Posts
    2,931

    Re: Is it Time for a Balanced Budget Amendment for the Federal Government and All Sta

    The problem is that everything is considered an emergency. We never cut spending. We cut the future growth of spending.

  9. #9
    Sage
    Visbek's Avatar
    Join Date
    Nov 2011
    Last Seen
    12-07-18 @ 07:04 PM
    Lean
    Other
    Posts
    12,472

    Re: Is it Time for a Balanced Budget Amendment for the Federal Government and All Sta

    Quote Originally Posted by Evilroddy View Post
    The title sort of says it all.
    So does the following answer:

    Hahahahahaha

    There is absolutely no way that would pass. It would be an utter disaster if it did, too.

    Balancing the budget in 5 or 10 years is pretty much impossible. Nearly 75% of our budget goes to Social Security, Medicare, Medicaid, Defense, VA and balancing the budget. Republicans are obsessed with cutting taxes, a move that will only increase the deficit.

    Not to mention that if the federal government cut spending by $600 billion, that would have an enormous negative effect on GDP. It'd cause a nice little recession -- which would reduce revenues, and require even more cuts, which would exacerbate the recession and further reduce revenues, requiring more cuts....

    Last but not least, debt is not a big issue. I've been hearing people bitch about debt since the 80s, and the crisis they keep promising? It never happens. We can easily cover our interest payments, and public debt never actually needs to be paid off in full.

    We also see how state-level balanced-budget requirements (most states have them) cause all sorts of issues, especially for those tax-cutting Republicans. Kansas, for example, slashed taxes at the instigation of Richard Laffer. This resulted in year after year after year of fiscal crises, with the state -- which already spent as little as possible -- needing to raid its rainy day fund, slash education spending, pillage its highway funds, and after several years even Republicans realized they needed to increase taxes.


    An amendment making deficit financing illegal, except in times of declared war, for the governments of all fifty states and the Federal Government.
    Does that include the War on Terror? The war in Afghanistan? Against ISIS?


    So what do Americans think? Is real and enforceable fiscal restraint worthy of a constitutional amendment?
    Americans are kind of nuts.

    They want services, but don't want to pay for it.

    They will insist in one minute they want a balanced budget, then scream bloody murder when Congress cuts defense spending, Social Security and Medicare.

  10. #10
    Student
    Join Date
    Sep 2017
    Last Seen
    10-22-17 @ 07:55 AM
    Gender
    Lean
    Libertarian - Right
    Posts
    255

    Re: Is it Time for a Balanced Budget Amendment for the Federal Government and All Sta

    I don't mind if politicians borrow money, but the debt should be transferred to them personally at the end of each term, and they can't discharge it through bankruptcy. So if a government owes 1 trillion dollars after four years, and there are 535 congressmen + 1 president, then 1 trillion dollars/536 politicians = just under 2 billion dollars owed by each politician. None of them would dare to borrow that much money at such a high personal risk; and regardless, the new government will never be stuck with the bad decisions of its predecessor.

Page 1 of 7 123 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •