Balanced budget amendment: 'Irresponsible'
March 29th, 2011
12:12 PM ET
4 years ago

Balanced budget amendment: 'Irresponsible'

NEW YORK (CNNMoney) - In a time of record debt, it sure sounds prudent: Amend the U.S. Constitution to force Congress to balance the budget every year. In reality, it may be anything but.

More than a dozen leading Republican senators are co-sponsoring a bill that would require a balanced budget; cap spending below the historical average; and require a supermajority of lawmakers to approve tax hikes or most increases to the debt ceiling.

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Filed under: Budget • Congress
soundoff (14 Responses)
  1. SachWhics

    Excellent article, thank you!

    March 29, 2011 12:13 pm at 12:13 pm |
  2. B

    Where were all of these "Conservative" people during Bush’s orgy of undeclared spending during the previous term ?

    The Republicans are bound to balance the budget on the backs of working Americans as evidenced by what just took place in Wisconsin with their OUTLAW Governor.

    March 29, 2011 12:41 pm at 12:41 pm |
  3. Frank - Ohio

    Of course you don't want to balance the budget. You would rather give all of your Dem friends free cash handouts and simply have the Federal government print and borrow more.

    March 29, 2011 12:43 pm at 12:43 pm |
  4. terry,va

    Balance the budget by making ALL Americans and corporations pay taxes. I'm tired of Obummie buddies like General Electric making 14.2 billion and paying zero in taxes. I'm also tired of 47% OF US PAYING NO TAXES. If you have income you should contribute. Tired of the handouts. Get a job people on unemployment for 3 years. Anyone that can work and don't should starve.

    March 29, 2011 01:16 pm at 1:16 pm |
  5. Sniffit

    "It is about the most irresponsible action imaginable," said Norman Ornstein, a resident scholar at the conservative American Enterprise Institute. "It would virtually ensure that an economic downturn would end up as a deep depression, by erasing any real ability of the government to pursue countercyclical fiscal policies and in fact demanding the opposite, at the worst possible time."

    Poor Mr. Ornstein just got himself fired from the "conservative American Enterprise Institute." Had he been a professor at a public university saying something so sane, he could expect myriad FOIA requests for all his emails and teaching records from countless conservative groups....just liek they're doing to university professors in WI, MI and all over the midwest in a bid to "prove" that public universities have been conspiratorially taken over by liberals and unions in order to indoctrinate our children. Well, actually, they have: indoctrinate them with truth, accurate facts, historical record, empirical evidence and such. It's not our fault the GOP/conservatives/Teatrolls are throwing a screaming hissy fit that their ideology is finally starting to run up against that inconvenient brick wall known as reality.

    BTW, it would be nice if CNN would actually engage in some journalism and report about thew withchunt FOIA requests from corporate-backed conservative "think tanks" (term used loosely) in the midwest. It's clearly the end-around that people like Walker and Fitzgerald are looking for because if they started doing it themselves in roder to find excuses to fire professors, the level of fascism would just be too obvious even for the "news" media to ignore and whitewash.

    March 29, 2011 01:19 pm at 1:19 pm |
  6. SJC2

    Contact On America had that in 1995, that never happened just like term limits never happened. Extending it 2 weeks and then 3 weeks is no way to run a country. Cut what we have to this year and work on major reductions and revenue for next year.

    March 29, 2011 01:23 pm at 1:23 pm |
  7. Four and The Door

    B
    Where were all of these "Conservative" people during Bush’s orgy of undeclared spending during the previous term ?
    _______________________________________________________________________________________________
    What has George Bush got to do with anything at all right now?!?! It's 2011. Do you always drive out of your rear view mirror? Is your point that each administration must be allowed to do all the things that the previous administration got to do? Because everything in the world is exactly the same as it was then?

    March 29, 2011 01:25 pm at 1:25 pm |
  8. pompey

    ...of course socialist and soviet unions don't want to balance the budget....all of their constituents live on the dole...... ancient Rome never got this bad…….!

    March 29, 2011 01:28 pm at 1:28 pm |
  9. one voice

    The reality folks is that it took 8 years of (2 wars while giving the mega rich tax breaks and DE-REGULATION) to get to where we're at(THANKS BUSH),now you GOP CLOWNS want to swoop in and save the day on the backs of the ALREADY CRIPPLED MIDDLE CLASS ans THE POOR. IDIOTS.

    March 29, 2011 01:34 pm at 1:34 pm |
  10. Really?

    Oh the surface such an amendment is very appealing but it causes many problems especially in a time of crisis or war. Add to that the "super majority" requirement and it sounds more like a way to to strengthen the filibuster move that the Republicans like to overuse. What really needs to happen is tax deductions and loop holes need to be severely reduced or eliminated for private and corporate incomes. In addition taxes will unfortunately have to be increased to make up for the spending spree over the past decade.

    March 29, 2011 01:42 pm at 1:42 pm |
  11. KDL

    I think one commentor FAILED to read the entire article... yes, this could be possible BUT taxes would have to be raised... that is what the entire article said... I am ALL for it – I just wanna see HOW this would be implemented... show us an implementation plan along with the ammendment and I'd be all for it!!!

    March 29, 2011 01:52 pm at 1:52 pm |
  12. Wire Palladin, S. F.

    There will be no balanced budget until we can extricate ourselves from the unfunded wars in Iraq and Afghanistan, until big oil, billionaires and big corporations pay their fair share of taxes, and when Wall Street and the too big to fail banks act responsibly

    March 29, 2011 01:54 pm at 1:54 pm |
  13. Phil in Oregon

    The part about supermajority will sink this. Then the GOP will look like they tried to do something, knowing nothing would happen. Balancing the budget will take years – no law will make that happen immediately. If the govt stops writing paychecks and buying goods and services that fast, the economy will collapse.

    March 29, 2011 02:14 pm at 2:14 pm |
  14. Lynda/Minnesota

    Funny how GOPers love to talk about balancing the budget, yet continue to rack up the spending as they did both during Reagan's 8 year term and GWB's 8 year term. For thirty years we have been hearing how Reagan's voodoo trickle down was the cure all. The effects of that good old trickle down of giving more and more to the upper 2%ers while taking more and more from the middle class have been astonishing, to say the least. Far as I can tell, only the wealthy have benefited - or ever will benefit. At any rate, Pawlenty balanced our budget here in Minnesota, never raised taxes, and still managed to leave us $6B in debt. Including running through the budget surplus handed to him (by Jesse Ventura no less) during Pawlenty's first term as Governor. MN housing values have collapsed, MN property taxes have increased, MN jobs are scarce, and, yet, GOPers keep selling the same old BS year after year . . . Pawlenty's fiscal record notwithstanding.

    March 29, 2011 02:22 pm at 2:22 pm |