Summary
A balanced national budget is so vital to the well-being of the United States that support for an unbalanced budget is as harmful to the nation as outright treason. Some say my view is extreme: We have survived for many years riding ever-increasing deficits and debt. Where is the harm?
The most common argument in favor of balance is that of financial responsibility. We ought to pay for our government, not pass the cost to our children. If we operate in the red, then each year more revenue is used for debt service. Further, as the government borrows, less money remains in the market for the private sector, increasing interest rates.See the full content of this document
Extract
Budget Woes Lead to Abuse of Power
These arguments are valid and sufficient to support a constitutional amendment requiring a balanced federal budget, but they are the least of the reasons. Indeed, economists who hold that balance is not important make excellent points demon...
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