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Are we sure we need a Balanced Budget Amendment?

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posted on Aug, 16 2011 @ 09:11 AM
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The push from the right for a balanced budget amendment(BBA) appears to make the assumption that the budget can only be balanced by a reduction in federal spending. However there are two ways to balance a budget. The amendment could also create a constitutional mandate to increase taxation as a way to balance. The Constitution has already been mutilated when the 16th amendment authorized the income tax with promises that the tax rates would never exceed 1% of income. I am afraid that upon passage of a BBA we will have finally mutated the Constitution into nothing more than a confiscatory tax code.

Giving money and power to government is like giving whiskey and car keys to teenage boys. P.J. O'Rourke




posted on Aug, 16 2011 @ 09:25 AM
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No, what we need is to abolish the central bank, and return to the Treasury printing money backed by real gold.

No amendment can balance the budget when we allow the federal reserve to control the currency supply.

Under the Federal Reserve System there is NEVER enough money to balance the budget, this is just how it is designed to function.



posted on Aug, 16 2011 @ 09:41 AM
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I for one, would welcome a BBA. The nation needs to be managed just a normal husehld would be managed. I cant go to my creditors and ask for an increase in my credit card limit every time I want t make a new purchase. I need to pay it down until there is available credit and then I can make the purchase. The same should be the case for the govt here.

A Balanced Budget used to be the battle cry of the Democrats, in fact remember hw much Bill Clinton was beloved for the fact that he did just this, he balanced the budget, albeit ot for long or permanently. I remember in college, being a long conservative in a very very liberal liberal arts school, being frce fed the doctrine everywhere I went and how Mr. Clinton had balaced the budget, and how the Repub's should be eating crow, blah blah blah....

It seems the Dem's no longer want to be the saviours of the budget. Thats okay by me. PAss the BBA and even though its an R project in the Congress, I guarantee that Obama's presidency will be remmbered for it.



posted on Aug, 16 2011 @ 10:55 AM
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A balanced budget amendment is just another way to lock in payments to the bankers.

We need to get rid of the central bank first than worry about budgets because no budget will ever be balanced (without significant economic harm) until the debt system is done away with. Even if we tax people all their earnings, there is still no way to pay the governments total liabilities.



posted on Aug, 16 2011 @ 10:57 AM
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Considering how many othe amendments are not followed, it won't do a damn thing but give kids one more ammendment to learn.



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