I say yes.
what rational reason is there for not having one ?

what say you ?

I was just asking myself the same question as I read the news on my laptop.
Cut cap and balance-regardless of political leaning would be good for our country. Simple as that, it is the right thing to do to help ensure our nations health and prosperity.
I'm for it.

There is no reason not to. Washington has for to long spent more than they have and unfortunately we are broke.The lifers in the house and senate don't want it because their reckless spending will come to a halt unless they raise taxes. Not a good idea now or ever. Raising taxes will make all the lifers vulnerable in the their next election, not what they want. Term limits would have helped long ago, but that's another bag of nuts to crack.

It makes congresses job much tougher for the way they prefer to do business.

Yay

need to spend less than is available...no questions asked

Cut cap and balance would throw the nation into another recession at a minimum.

For a short time, I think. But it would be like the pain of having a bullet removed. Hurts like hell, but worth it!

Having a balanced budget and low debt can never happen as long as we have a privately owned central bank who prints money out of thin air with nothing backing it up.

What did the founding fathers have to say on the subject?

I'm not big on willy nilly amendments. I'm glad there are built in protections from having knee jerk political reactions. We need a buffer from the emotions of politics.

Besides, short term deficit spending can be beneficial or even necessary. Fighting wars (like WWI, II etc not this fiasco Bush took us in to), infrastructure improvements (think start up businesses and the debt they may take on initially to get the end pay out) etc.

Long term or sustained deficit spending is the real cancer.


BBA is a knee jerk reaction that gets thrown around every few years and will continue to. Personally I'm hesitant to ever pass any amendment and when one comes along that is worthy, generally speaking I would prefer it be well thought out and not a reaction to a bunch of howling dogs working themselves into a lather.

Nobody volunteers for a recession. Nobody goes looking for austerity. Austerity comes looking for you. The USA economy is propped up by government deficit spending.

The private central bank does its job well. It prints money out of thin air, loans it out, and turns it into debt. Debt is the national currency, not the US dollar. Debt is the world currency. In the financial/banking crisis and in the current artificially manufactured US debt crisis, all steps were taken to protect debt.

They're all dead. They're out of the conversation.

They are? I didn't even know they were sick.

Then Obamacare's death panels are working!

In America, austerity find YOU!

Why do yall hate America so much?

Austerity is coming, just not yet. All it will take is a flash point just like what happened in Greece. Foreign investors lost confidence that they would get repaid and interest rates went from 5% to 15%. Game over.

The most important thing the USA can do is reassure foreign investors that they will get repaid somehow so the 2.9% interest rate is a good deal. The second most important thing is to reinforce 401K investment strategies to include a mix of stocks and bonds. Those bonds are another major holder of US debt.

In the grand scheme of things USA debt is still very safe. Under President Obama we are going through a massive retooling of the nation that has forced a fundamental political ideology fight. 25% of GDP is now the government sector and something like 20% of disposable income comes from government sources. If these levels are justifiable then the solution is massive tax increases to properly fund all the services we are demanding from government. If we don't want the taxes, then we have to reevaluate cut, cap, and balance versus tax and balance.

The USA is becoming western Europe through the outcome of the recession and sweeping programs like Obamacare. Some people are just getting dragged kicking and screaming.

austerity should be looking for CROS..... 😟

I heard CROS is in a hospital in bali. I guess someone lit his colostomy bag on fire and he got burned pretty bad.

there are some sick bassards out there!!!!! poor CROS.... 😞

I wonder if my bank will let me run below zero for awile..?? 😕