Does the U.S. Need a Balanced Budget Amendment?

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The US currently borrows 40% of its needs. If we cannot borrow again we have to pay our way with taxes. That would imply a tax increase of 65% just to pay current commitments. As for paying off existing debt, that would have to be additional taxes or we could content ourselves with paying off Treasury debt as it matures, and adjusting tax rates each year to cover the projected amount as it varies. We could cut budgets, but that means police, roads, schools, defense, pensions, social security, government in general. That would be a lot of jobs that will no longer pay taxes. So everyone else will have to pay more. It would be in the Constitution, right?
A better idea. Leave the Constitution alone and elect members of Congress who will exercise good judgment and do their jobs well.

of 6:19PM July 18, 2011

The constitution included a natural restraint on government spending my making gold and silver money. Now debt is money. The only 'money' that exists is borrowed into existence. Since interest is charged on the borrowed money, more has to be borrowed to repay the original loan plus interest. This scam is the closest thing in existence to a perpetual motion machine that I am aware of. A balanced budget amendment would force the issue out in the open.
http://www.youtube.com/watch?v=ZPWH5TlbloU

Nayrb of UT 12:01AM May 26, 2011

Yeah balance the budget, if you don't we will soon have nobody to buy our debt. We are a nation ruled by a soft-tyranny, we can't directly see what is going on but this administration is stealing our liberties every single day.
http://www.modbargains.com/BMW-Wheels-Rims.htm

Franky Greens of AL 12:38PM May 04, 2011

We need the Balanced Budget Amendment now to stop the out of control spending that Congress and the President are unable to reign in.
Without it and the ability to self-retrain the spending, Congress will spend this nation into extreme debt and hyperinflation. The ultimate tax on the poor.
More spending = tax on the poor
No BBA = tax on the poor
Hyperinflation = tax on the poor
Falling & worthless dollar = tax on the poor

Yes on BBA of IN 12:59AM May 04, 2011

Especially Al Gore home using so much energy. Al was on the Hill pushing his agenda, and someone pointed that out.
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“Gore's High Energy-Use Home Target of Critical Report”
“On Sunday, Gore's global-warming documentary "An Inconvenient Truth" won an Oscar. The movie has won accolades from a wide berth of groups, including many in Hollywood. In the film, Gore calls on Americans to conserve energy by reducing electricity consumption at home.”
“Using Gore's fresh win as a backdrop, the new report said Gore's energy consumption jumped by about 14 percent in a year. The Gore household averaged 16,200 kWh per month in 2005, and 18,400 kWh per month in 2006.”
“The report also said that the Gores' natural gas bills for his mansion and guest house averaged $1,080 per month last year.”
“The Gores' home "carbon neutral," Kreider said, meaning that the overall household use of carbon-based energy, like coal-fired power plants and natural gas, is offset either by more fuel-efficient technology or through programs aimed at reducing greenhouse gas-producing energy.”
“The report describes the Gores' home as a mansion, but Kreider refers to it as a "residence." She did not immediately know how many rooms the residence had, but described the second building on the property as a swimming pool house, adjacent to an outdoor pool.”
“Kreider said the 60- to 70-year-old house is undergoing renovations to add solar panels to reduce consumption off the power grid, and energy-efficient windows have been installed. The home also uses "compact" fluorescent light bulbs and other energy-saving technology, the Gores drive hybrids and participate in two programs that indirectly reduce carbon emissions.”
http://www.foxnews.com/story/0,2933,254908,00.html
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“Perhaps Al Gore should ask George W Bush for help in making his house more energy efficient”
http://www.practicalenvironmentalist.com/energy-efficiency/perhaps-al-gore-should-ask-george-w-bush-for-help-in-making-his-house-more-energy-efficient.htm
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Al has since cleaned up his act, catching up with Bush in environmental home responsibility...

Bill Hedges of MO 11:29AM April 30, 2011

I think you are expecting too much from liberal progressive mind, Mr. president last week noted " we can't spend more then we get it", but he as good progressive will not slow down his wasteful spending, his solution is to increase money confiscation by Taxing hard working, tax paying people, people who create jobs and wealth of America. Progressives have no clue how to create money, all they know is how to grab it . This president and his Harvard economists or czars, so far did damage in historical proportions. Lies, propaganda of success and ideology doesn't work, unless you count on Gobbels' rule, that : "lie repeated 101 times, becomes the truth".
Homeless people are those who used progressive's advice and did not balanced their household budged.
I wonder if those who cry for not balancing US budget do the same in their own households or is it like with biggest hypocrite Al Gore who push for energy savings but by himself spending energy adequate to 20 average families. I am disgusted with ,what these people did to America and its values.

mark of IL 5:54PM April 28, 2011

1. “Hatch as ranking Republican on the Senate Finance Committee is responsible for a much as half of our total deficit by neglecting to monitor spending under Bush.”
First off barry has in 2 years put America in debt more than 8 years of Bush. If barry had his way, more debt would be in our future:
“CBO: Obama’s Budget Adds $9.5 Trillion to Deficit”
http://reddogreport.com/2011/03/cbo-obamas-budget-adds-9-5-trillion-to-deficit/
Now tell me how Hatch is responsible for “half of our deficit” as you say:
“The composition of the 109th Congress (2005 - 2007) was as follows:”
“Senate: 44 D, 55 R House: 202 D, 231 R”
“The composition of the 110th Congress (2007 - ) is as follows:”
“Senate: 49 D, 49 R House: 233 D, 198 R”
http://www.infoplease.com/ipa/A0774721.html
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2. “Passing an amendment with such division in the country makes this just more folly ”
If it passes, what “ division ” ??? Majority RULES !!! Have we EVER had a 100 % vote ?
3. “let's start with passing a line item veto so we can cut some of the pork and earmarks Congress rewards itself and its wealthy investors”
I agree. Hillary Clinton & barry was #1 and #2 PORKERS when in Congress. barry had a near $$$ 1,000,000 a work day PORK HABIT. But I would take his pork in the Senate over his PORK in White House. Pres. barry has sold our economic souls. And the voters spoke Nov. 2, 2010.
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People like you are “the simpletons”. Voters are solving the “division”. Voting out Democrats...

Bill Hedges of MO 10:12PM April 26, 2011

Hatch as ranking Republican on the Senate Finance Committee is responsible for a much as half of our total deficit by neglecting to monitor spending under Bush.
Passing an amendment with such division in the country makes this just more folly - let's start with passing a line item veto so we can cut some of the pork and earmarks Congress rewards itself and its wealthy investors. The BBA is a cute slogan, but really just an empty lie that lures in the simpletons attracted by another gimmick.

Eric of MO 8:40PM April 26, 2011

Why can the government not spend only what it has?
American families need to live within their means. Why can't the government do the same thing?
Deficit spending means that we are stealing from our children's and grandchildren's futures!
We are the current generation of thieves who are spineless!
"Spend now and the leave it for future generations to pick up the tab," we are saying.
Pass the BBA now!

Pass the BBA of HI 2:38PM April 26, 2011

Visit this site and sign the pledge so that we can together help pass a balanced budget Amendment. It is also the best resource to find news about the balanced budget amendment and they will keep you up to date on what they are doing.
www.passthebba.com I signed it so that congress knows that I want a balanced budget amendment

alex of UT 1:59PM April 25, 2011