The Balanced Budget Constitutional Amendment

Paper Summary:

This paper looks at the reasons behind Congress's proposal for a Constitutional amendment that would require a balanced budget and the groups that supported the proposal. The paper also looks at the groups that opposed the proposal and their arguments against it. The paper concludes with a counter proposal that is intended to address the concerns of those both for and against the proposed amendment.

From the Paper:

"Deficit spending in the eighties, coupled with two Gulf Wars and a slowing economy, have escalated the borrowing and spending of this country for nearly two decades straight. As the federal deficit grows, those within government can not help but heed the warning signs. With no end in sight, many inside the beltway have proposed initiatives for capping federal spending. The most notable of these, and perhaps most drastic, is the adoption of a Constitutional amendment requiring a balanced budget. Proponents believe a balanced budget is necessary for the continued prosperity of the nation. They also believe budget oversights can be avoided when the President and lawmakers are held accountable for where they direct money."

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