A simple argument for a balanced budget amendment
By Tim Kane
If we are to restore economic sobriety and intergenerational fairness to the budget, a more binding solution on how Congress makes those budgets may be needed. I believe a 28th Amendment to the Constitution requiring a balanced budget is the only way to control the red ink. While this idea may appear radical, it was initially proposed over 30 years ago, when in 1982 some version of balanced-budget legislation passed one but not both chambers of Congress. The 28th amendment should be a constraint should be on expenditures only. Congress shall spend no more in the current year than it collected, on average, over a previous set of years. Such a constraint would limit overspending in years of rapid growth, a brake that is currently nonexistent.
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A balanced budget amendment is vital. Not convinced? Check out Rand Paul’s take on the subject near the halfway point of this video. Despite a hostile journalist it should be easy for most to see the logic behind his argument.