Is it Time for a Balanced Budget Amendment?

One of several provisions of a debt ceiling agreement floated by Republicans is that both houses of Congress pass a Balanced Budget Amendment (BBA) resolution. Not a new idea – all states but Vermont currently have balanced budget requirements. Germany and Switzerland both have balanced budget provisions in their constitutions. In a letter to John Taylor of Caroline on November 26, 1798, Thomas Jefferson wrote:

“I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government; I mean an additional article taking from the Federal Government the power of borrowing. I now deny their power of making paper money or anything else a legal tender. I know that to pay all proper expenses within the year would, in case of war, be hard on us. But not so hard as ten wars instead of one. For wars could be reduced in that proportion; besides that the State governments would be free to lend their credit in borrowing quotas.”

Since 1975, 32 states have petitioned Congress to consider a BBA. Should two additional states issue similar petitions, some contend Congress would then be required to call a Constitutional Convention, in accordance with Article 5 of the US Constitution, to consider the BBA.

There is currently a joint resolution in Congress to pass a BBA.

JOINT RESOLUTION

Proposing an amendment to the Constitution of the United States relative to balancing the budget.

Resolved by the Senate and House of Representatives of the United States of America in Congress assembled (two-thirds of each House concurring therein), That the following article is proposed as an amendment to the Constitution of the United States, which shall be valid to all intents and purposes as part of the Constitution when ratified by the legislatures of three-fourths of the several States:

Article

Section 1. Total outlays for any fiscal year shall not exceed total receipts for that fiscal year, unless two-thirds of the duly chosen and sworn Members of each House of Congress shall provide by law for a specific excess of outlays over receipts by a rollcall vote.

Section 2. Total outlays for any fiscal year may not exceed 20 percent of the gross domestic product of the United States for the calendar year ending before the beginning of such fiscal year, unless two-thirds of the duly chosen and sworn Members of each House of Congress shall provide by law for a specific amount in excess of such 20 percent by a rollcall vote.

Section 3. Prior to each fiscal year, the President shall transmit to the Congress a proposed budget for the United States Government for that fiscal year in which total outlays do not exceed total receipts.

Section 4. No bill to increase Federal taxes shall become law unless approved by two-thirds of the duly chosen and sworn Members of each House of Congress by a rollcall vote.

Section 5. The Congress may waive the provisions of this article for any fiscal year in which a declaration of war is in effect. The provisions of this article may be waived for any fiscal year in which the United States is engaged in military conflict which causes an imminent and serious military threat to national security and is so declared by a joint resolution, adopted by a majority of the duly chosen and sworn Members of each House of Congress, which becomes law.

Section 6. The Congress shall enforce and implement this article by appropriate legislation, which may rely on estimates of outlays, receipts, and gross domestic product.

Section 7. Total receipts shall include all receipts of the United States Government except those derived from borrowing. Total outlays shall include all outlays of the United States Government except for those for repayment of debt principal.

Section 8. This article shall take effect beginning with the fourth fiscal year beginning after its ratification.

There have been discussions of changes to the supermajority requirements, from two thirds to three quarters, as well as whether 20% of GDP is the appropriate limit. Amendments have also been proposed requiring state ratification of all increases to the debt ceiling, which would be intended to supplement rather than replace the BBA and would be of little effect if the BBA were properly enforced – a belt and suspenders approach.

Criticism of a BBA largely centers around the Keynesian argument that deficit spending is necessary in times of recession, though this particular argument seems to be dulled if not entirely refuted by recent attempts to dampen the recession with historic annual deficits. Given the clear propensity for members of the Executive and Legislative branches, including many who claim to fly the flag of fiscal conservatism, to consider prior year spending as the budget baseline, expecting a change to that approach absent a Constitutional requirement seems unrealistic at best.

With current debt exceeding $14 trillion, any agreement to allow an increase should come with passage of the joint resolution. The President is right……..enough is enough.

http://bbanow.org/

http://en.wikipedia.org/wiki/Balanced_Budget_Amendment

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18,543 Comments

  • LeftyBill says:

    Happy Birthday Chevrolet! (SSS) says:
    November 3, 2011 at 12:49 pm
    So there were discussions a while back about why China is our enemy. And now there are two newstories:
    1. Selling weapon technology to Iran in lieu of the UN Sanctions
    2. Cyberattacks on our companies that deal with our military and such.

    Now why would a friend/partner/colleague do that?

    ________________________________________________________

    That is interesting, very similar to old cold war stuff. What you recommend, limited sanctions, cutting off most favored trading status, other possibilities. Not saying I disagree, wondering what your views are.

    • LeftyBill says:

      And have to ask, did China sign off on the sanctions? If they did not, they are not really obligated to follow them. They may have, just not sure.

  • LeftyBill says:

    So Barb, just so I can understand since this seems to be your issue today. Are sad that Al Awaki and OBL are dead. Or do you just like to call soldiers assassins. I would wager that Naval Seal who probably did what he thought was best for the safety of his team, would not take to kindly to being called an “assassin”. Likewise the USAF drone pilot in Yemen, he would also probably call himself and Airmen, and not an assassin. Now run along and polish your “I support the troops bumper sticker”.

  • LeftyBill says:

    Susanne, is it Chevy’s birthday?????????????????? :)

  • LeftyBill says:

    Cuba legalizes sale, purchase of real estate
    http://www.msnbc.msn.com/id/45147271/ns/world_news-americas/

    End this idiot embargo!!!!!!!!!!!!!!!!!!!!!!!!

  • LeftyBill says:

    Three in Four Americans Back Obama on Iraq WithdrawalRepublicans more likely to disapprove than approve
    by Jeffrey M. JonesPRINCETON, NJ — Americans widely support President Obama’s recent decision to withdraw nearly all U.S. troops from Iraq by the end of the year, with 75% approving. That includes the vast majority of Democrats and independents. Republicans, however, are slightly more likely to disapprove than approve

    Well then, I would tell those REPUBLICANS to GO THEMSELVES. Many firms are hiring security personnel over there, paid by the Iraqi Government, NOT the US taxpayer, so what is stopping you Sean……Rush………Brian………..Steve…Savage……

    Oh yeah, you guys just talk a good war. :)

    • 45Reverse says:

      The beef has never been about simply getting out…it’s been about announcing timelines and dealines.

      You know that.

  • LeftyBill says:

    ABC Previews Giffords Interview
    ABC has previewed its interview with Rep. Gabrielle Giffords and her husband, Mark Kelly, set to air November 14. Check out the preview below:

    video platformvideo managementvideo solutionsvideo player

    Impossible, Barb told us there was NO interview a couple of months back. :)

  • 45Reverse says:

    45Reverse says:
    November 3, 2011 at 1:25 pm
    You can tell MUCH about people by the company they keep:

    Here’s a list of all the groups, individuals, and/or organizations that have comeout in support of OWS. This list has purportedly cross checked and verified, original source link is below.

    The 99%: Official list of Occupy Wall Street’s supporters, sponsors and sympathizers

    Communist Party USA
    Sources: Communist Party USA, OWS speech, The Daily Caller

    American Nazi Party
    Sources: Media Matters, American Nazi Party, White Honor, Sunshine State News

    Ayatollah Khamenei, Supreme Leader of Iran
    Sources: The Guardian, Tehran Times, CBS News

    Barack Obama
    Sources: ABC News, CBS News, ForexTV, NBC New York

    The government of North Korea
    Sources: Korean Central News Agency (North Korean state-controlled news outlet), The Marxist-Leninist, Wall Street Journal, Times of India

    Louis Farrakhan, Nation of Islam
    Sources: video statement (starting at 8:28), Black in America, Weasel Zippers, Philadelphia Weekly

    Revolutionary Communist Party
    Sources: Revolutionary Communist Party, Revolution newspaper, in-person appearance

    David Duke
    Sources: Talking Points Memo, video statement, davidduke.com

    Joe Biden
    Sources: Talking Points Memo, video statement, Mother Jones

    Hugo Chavez
    Sources: Mother Jones, Reuters, Examiner.com

    Revolutionary Guards of Iran
    Sources: Associated Press, FARS News Agency, UPI

    Black Panthers (original)
    Sources: in-person appearance, Occupy Oakland, Oakland Tribune

    Socialist Party USA
    Sources: Socialist Party USA, IndyMedia, The Daily Caller

    US Border Guard
    Sources: White Reference, http://www.usborderguard.com, Gateway Pundit, Just Another Day blog

    Industrial Workers of the World
    Sources: IWW web site, iww.org, in-person appearances

    CAIR
    Sources: in-person appearance, Washington Post, CAIR, CAIR New York

    Nancy Pelosi
    Sources: Talking Points Memo, video statement, ABC News, The Weekly Standard

    Communist Party of China
    Sources: People’s Daily (Communist Party organ), Reuters, chinataiwan.org, The Telegraph

    Hezbollah
    Sources: almoqawama.org, almoqawama.org (2), almoqawama.org (3), wikipedia

    9/11Truth.org
    Sources: 911truth.org (1), 911truth.org (2), 911truth.org (3)

    International Bolshevik Tendency
    Sources: bolshevik.org, Wire Magazine

    Anonymous
    Sources: Adbusters, The Guardian, video statement

    White Revolution
    Source: whiterevolution.com

    International Socialist Organization
    Sources: Socialist Worker, socialistworker.org, in-person appearance

    PressTV (Iranian government outlet)
    Sources: PressTV, wikipedia

    Marxist Student Union
    Sources: Marxist Student Union, Big Government, marxiststudentunion.blogspot.com

    Freedom Road Socialist Organization
    Sources: FightBack News, fightbacknews.org

    ANSWER
    Sources: ANSWER press release, ANSWER web site, Xinhua

    Party for Socialism and Liberation
    Sources: Liberation News (1), pslweb.org, The Daily Free Press, Liberation News (2)

    original link here:

    http://pjmedia.com/zombie/2011/10/31/the-99-official-list-of-ows/?mid=51

    Reply
    ==================

    Just reposting so my friend Hook can be sure to get a look at it.

  • I am in the 53% says:

    what’s going on?? why is everyone in this article? what happened to the other article?

  • 53 peRcent and counting says:

    Hey . What with the show that is on when Criminal Minds used to be on ? the people in the messy houses . I dont get it .

  • 53 peRcent and counting says:

    EA is here … . ..

  • An telum i luvum… (SSS) says:

    HAVANA (AP) — Cuba announced Thursday it will allow real estate to be bought and sold for the first time since the early days of the revolution, the most important reform yet in a series of free-market changes under President Raul Castro.
    ————–
    Another step towards showing how communism/socialism doesn’t work.

    http://hosted.ap.org/dynamic/stories/C/CB_CUBA_PRIVATE_PROPERTY?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-11-03-12-09-35

    • EA says:

      Yeeeeah … The housing market is doing awesome in this bastion of capitalism … :lol: :roll:

    • LeftyBill says:

      Wish I could remember the lecturer the other day. He sais Cuba and America are the only two nations who do not seem to think that they need a combination of BOTH socialism and capitalism to ensure national integrity. Glad that we are BOTh starting to see that. :)

      • I am in the 53% says:

        that’s a dumb statement…sorry. America’s been mixed for a century. Nothing new. We don’t need to include MORE socialistic policies.

      • 45Reverse says:

        Eff That! WTF is “National Integrity” anyway???

        Whatever it is, I struggle to see how socialism promotes integrity in anything when it’s foundational principle is to take from one party and redistribute to another based on the judgement of a third party. :roll:

  • I am in the 53% says:

    EA says:
    November 3, 2011 at 2:48 pm
    Yawn … Here we go again .

    U are a broken record
    ==================

    when nothings changed, how could he report anything differently? Every discussions a broken record…nothing’s improved for 2.5 yrs.

    • LeftyBill says:

      He brings up the Nazi party, but FAILS to mention they ALSO attended TP rallies.

      Neo-Nazi J.T. Ready Speaks at Phoenix Tea Party Event, as Does Tasered Tempe Pastor Steven Anderson
      http://blogs.phoenixnewtimes.com/bastard/2009/07/neo-nazi_jt_ready_speaks_at_ph.php

      The Nazi MO is to turn groups against each other, and sad to say, you righties seem perfectly willing to dance to their tune if it suits your cause. Until today, I did not think ANY rational American would believe a Nazi…………..shrug.

      Go ahead, keep demonizing more groups……..the TP may NOT have been the movement of old white people, but keep this up, and that is all that will be left. :)

      • I am in the 53% says:

        oh brother… yaaaawwwwnnnn…. broken record. I’m shakin in my boots.

        :)

      • 45Reverse says:

        No…you don’t get it Bill.

        These entire groups, the whole organization, ENDORSES the OWS movement. Not just a couple of one-of whack jobs in attendance, but ENDORSING them.

        There is a difference Bill, even if you refuse to see it.

      • Says the man that supports a president that is pitting americans against americans. You are like a broken record you and your nazi analogy’s.

        • LeftyBill says:

          Yeah, I keep forgetting when the rightwing calls those who the disagree with slugs, scum, parasites, union thugs, anchor babies, welfare babies and all those other terms on endearment, you are only doing it with affect.

          Gosh, you are so right Barb…….those kind of comments will SURELY re-unify the nation………….perhaps in the fantasy world you live in. Cannot believe ANY Fox fan would have room to talk about deriding rhetoric, that is 90% of their airtime. But of course Barb, SINCE YOU WATCH NOTHING ELSE, you really have no idea. Shrug. :)

          • 45Reverse says:

            Umm Bill…not sure if you noticed or not but the leader of your party, Barak Hussein Obama, has been a pretty divisive character himself, pitting one class of American against another since he first started campaigning so many years ago.

            Hows about you address the dirty laundry in your house first before dogging Barb about hers?

      • John Galt says:

        Yes, and we were told in no uncertain terms that the GOP was dead back in 2008 as well. How’s that workin out for ya skippy? :lol:

        • LeftyBill says:

          That was in error…………….but then again in 2009, you all said ANYONE could beat Obama………well looking at Palin, Huntsman, Huckabee, Trump, Bachmann, and the rest……………seems that one was off as well. :)

          • John Galt says:

            Really – has the election been held and I missed it?

            Once again, I have facts to back up my assertion, you have a crystal ball apparently. Good luck with that. ;)

  • I am in the 53% says:

    i have something new for you.

    find the capacitive reactance of a capacitor of 0.1uF (0.1microFarans) in a circuit with 2.5 V(ac) at 1kHz.

  • An telum i luvum… (SSS) says:

    LeftyBill says:
    November 3, 2011 at 2:16 pm
    Happy Birthday Chevrolet! (SSS) says:
    November 3, 2011 at 12:49 pm
    So there were discussions a while back about why China is our enemy. And now there are two newstories:
    1. Selling weapon technology to Iran in lieu of the UN Sanctions
    2. Cyberattacks on our companies that deal with our military and such.

    Now why would a friend/partner/colleague do that?

    ________________________________________________________

    That is interesting, very similar to old cold war stuff. What you recommend, limited sanctions, cutting off most favored trading status, other possibilities. Not saying I disagree, wondering what your views are.
    ———————–
    Recognize them for what they are and protect our assets. Aren’t there international laws being broken by stealing intellectual property?

    Any aid we are giving them…stop.
    Get our financial house in order and pay off our debt to them.
    We are in a weak position financially and they are going after our intellectual property.. The things that make us and keep us successful.

    I think in our negotiations behind closed doors we don’t kowtow to them and speak from a position of strength and ensure that we send our SUPREME negotiators, not some flippin two faces politician. A person who talks the talk of business and negotiates at that level.

  • this would be funny if it wasn’t for real. Next to our own government this is what elitists look like. While Rome is burning…………………….

    http://www.foxnews.com/world/2011/11/03/gift-that-keeps-on-giving-un-lobbying-for-3b-in-future-projects-while/

  • An telum i luvum… (SSS) says:

    ■ LeftyBill says:
    November 3, 2011 at 2:31 pm
    No argument there……..almost as behind at keeping an embargo inplace to stop Cuba from invading.

    Reply
    ■ 45Reverse says:
    November 3, 2011 at 2:38 pm
    Doubt it was ever about an invasion, at least it hasn’t been for decades.

    It’s because they’re a commie country 90 miles from the shores of the good ol USofA
    ———————
    ANNNND….their willingness to allow their commie friends to place missles on their land pointing at America.

    • LeftyBill says:

      Out of curiousity, does ANYONE with a history backround KNOW why they did that. Is it possibly because WE PLACED missiles on the Turkey/USSR border, closer that 90 miles to their border.

      In most international issues, you usually find out there is a bit more to all this. Another little known fact……..the deal to remove the missiles from Cuba involved us quietly removing our missiles from Turkey.

      And as Paul Harver would say, now that is the rest of the story. :)

  • EA says:

    RW says:
    November 3, 2011 at 3:07 pm
    You’re one the ones saying it’s Mainstream. Nothing could be farther from the truth. The whole point of the post. You can’t change that simple fact, no matter how often, or much you try. Ignore it, and you ignore your own future.

    ———–

    When did i say theyre mainstream ?

  • LeftyBill says:

    The U.S. Congress held a ceremony on Capitol Hill on November 2, 2011 to award the Congressional Gold Medal, its highest civilian honor, to more than 1,000 Japanese-American veterans, now in their 80s and 90s, in recognition of their dedicated service during World War II. Japanese-American contributions to the war are even more remarkable since their families were rounded up and confined by their own government.

    Goodonya Guys……….good bipartisanship, and very appropriate. :)

  • EA says:

    An telum i luvum… (SSS) says:
    November 3, 2011 at 3:07 pm
    LMFAO!!!!! BIFF BAM BOOOOOOOM!!!!

    How does your own medicine taste EA?

    Reply

    ————

    I dunno , funny ? /shrug :)

  • Middle Class Warrior says:

    Cari, the answer is 42… no wait that was “The answer to life, the universe and everything”, sorry never mind :)

  • An telum i luvum… (SSS) says:

    To avoid having a state-appointed emergency financial manager, the city needs to address pension and health-care costs and “inefficient services” such as transportation and lighting, while labor union contracts need to be renegotiated before their expiration next June, the statement said.

    http://www.reuters.com/article/2011/11/03/us-detroit-financial-manager-idUSTRE7A26XK20111103
    ————————–
    And the city needs to shrink! Which of course they don’t want to do.

    “I’m not leaving my house and you can’t make me. Who care if I’m the only house within a mile of another house. I want my streets plowed, the city land mowed, I want my street lights working, I want my garbage picked up.”

  • EA says:

    53 peRcent and counting says:
    November 3, 2011 at 2:58 pm
    its cuz yer mouthy …

    Reply

    ————–

    Yer adorable when u try to be witty . Well played sweetheart :)

    Virtual asspat ;)

  • aztekclub says:

    45 you scream about communist so much… you sure you aren’t repressing some latent maxim?

    • 45Reverse says:

      Yes…pretty sure.

      Case in point- I have no desire to take your money and give it to somebody else.

      See how easy that was?

  • aztekclub says:

    Marxism…… yeesh I hate my auto-correct

  • aztekclub says:

    Arizona has fired the only independent panel member on their redistricting commitee for not being partisan enough

    • 45Reverse says:

      Yeah gerrymandering is a bitch…

      Dems have been doing it for a really long time too tho. Ever look at the whacked out borders on an election district map? TIP: It’s not because the borders ahve to be like that. It’s because the POLS have tried to rig election demographics.

      Duh…

  • An telum i luvum… (SSS) says:

    LeftyBill says:
    November 3, 2011 at 3:42 pm
    My personal opinion………….the threat is gone………has been gone for 20 years since the USSR went belly up. Think an influx of American tourist could change that nation to mainly capitalist in about 2 years……………….but by then, the Europeans and Asians will have snapped up all the good land, which by this law, I am quite sure they are doing now (with local help)……….too bad, would have been a great area for some killer resorts. shrug
    ————————-
    They can only purchase a home in the city and one is the country. Don’t think this law allows for foreigners to purchase any land. Exiles can’t. What is unclear is, is it just the structure or the actual land. Will have to wait and see.

    They are allowing all types of freedoms but vow to remain Socialists…..why? It’s a strawman at this point and not what they really are.

    • LeftyBill says:

      You could ask the same to a Chinese. Which to me even more begs the question, why is the embargo still inplace?

      But to get around that, being the evil capitalist I am, I would pay some Cuban to buy one house in the city, and one in the country I would give him the one in the city free and clear, and with the other, find one on some beautiful beach where I can enjoy a mojitos, some plantains, and a lovely Latina. :)

      • An telum i luvum… (SSS) says:

        Yeah you could. I see that they are entering into a place that will backfire on them oneday. You give people a taste of freedom and they will want more and someday will demand it.

    • aztekclub says:

      Oh please Barb…you want Greece to go under… like THAT will fix anything

      • 45Reverse says:

        …shady move to call off the referendum. Looks like the Greek people get no say in an issue that will efect them for decades going forward.

        Very socialist of them actually.

  • An telum i luvum… (SSS) says:

    ■ I am in the 53% says:
    November 3, 2011 at 3:56 pm
    i guess i’ve met my quota of postings today…so i’m leaving yet again. in the meantime…

    Bill – did you find the e-cigs? Ive’ done more research and found that a much more popular style is called the eGo electronic cig. You can order an entire starter kit online for $60, and vaporer’s love it. I’m gonna order one. http://www.route66vapor.com/products.php?product=Joye-eGo-Cone

    also – I ordered Cuban cigar flavored e-juice i’m curious…..

    Reply
    ■ LeftyBill says:
    November 3, 2011 at 4:00 pm
    Yeah, I did……..but I wimped and went back…………January 1st, the DEADLINE.

    RIGHT SUSANNE!!!!!!!!!!!!!!! For BOTH of us.
    ———————
    yyyyyyyyyyEP! If not sooner. You and me babe……

  • An telum i luvum… (SSS) says:

    Cari,

    Which one is the better starter kit?

  • EA says:

    LeftyBill says:
    November 3, 2011 at 3:36 pm
    Shhhhhhhhhhhhhhhhhhhhhh, rightwingers only like thier history books where everything is puppy dogs, Phyllis Schaffley, and abstinence only.

    ———-

    Go figure eh ? Democracy solves world problems , not missiles . Wish the warmongers on the right would learn from history since they are so quick to accuse us of ignoring said history .

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