This will mark the beginning of a discussion topic in the form of a question of the month series.
If you have a suggestion send it to diogenes@twc.com.
The first is from Honoria.
If you could make one change in the US Constitution, what would it be?
Specifications: This means today not at the origin or in 1865.
If you have a suggestion send it to diogenes@twc.com.
The first is from Honoria.
If you could make one change in the US Constitution, what would it be?
Specifications: This means today not at the origin or in 1865.
This is not very profound, but I will go with a balanced budget requirement.
ReplyDeleteWith the need to borry money in wartime in mind, exactly how would you write it?
DeleteI would imagine an exception to the “balanced” requirement in times of war or some mechanism for suspension of the rule in extreme cases of emergency. I believe Germany, Spain, Italy, and a few other countries have balanced budget requirements (BBR). Perhaps we could learn a lesson from their experience. Considering Spain’s current fiscal state a BBR is obviously not a magic bullet. And considering our current national debt neither is a “debt ceiling”.
DeleteYour question is a good one in that it raises the issue of defining a balance budget (or for that matter a budget). Since my concept of “budget” and “balanced” budget does not exclude borrowing I suspect that would require a much longer post. Especially since you asked for an exact answer.