Wednesday, January 26, 2011

A More Possible Balanced Budget Amendment

Thomas Paine; a painting by Auguste Millière (...Image via Wikipedia
‎"Government ought to be as much open to improvement as anything which appertains to man, instead of which it has been monopolized from age to age, by the most ignorant and vicious of the human race. Need we any other proof of their wretched management, than the excess of debts and taxes with which every nation groans, and the quarrels into which they have precipitated the world?" -- Thomas Paine

I'm in favor of a constitutional amendment that requires any new borrowing by government to be coupled with an immediate tax that pays off the new debt within ten years. 

That discipline will allow for emergencies but still force Congress to pay the bills.  I understand many would prefer an amendment that allowed for no borrowing at all, but that is considerably harder to get.  Let's not let the perfect be the enemy of the good.
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