A Constitutional Balanced Budget Amendment Threatens Great Economic Damage
Raises Host of Problems for Social Security and Other Key Federal Functions
July 27, 2011
|by Robert Greenstein and Richard Kogan
….By requiring a balanced budget every year, no matter the state of the economy, such an amendment would raise serious risks of tipping weak economies into recession and making recessions longer and deeper, causing very large job losses. That’s because the amendment would force policymakers to cut spending, raise taxes, or both just when the economy is weak or already in recession — the exact opposite of what good economic policy would advise….
Today, via Twitter, from Jason Kander (D):
A Balanced Budget Amendment will ensure Congress spends responsibly & we don’t burden our children with debt. #mosen
1:56 PM – 23 Jun 2016
Well, that can’t be walked back unless they can prove Roy Blunt’s (r) campaign hacked their account.
Ensure Congress spends responsibly? Uh, correct me if I’m wrong, but isn’t that the job of the voters every two years? Just asking.