"Andrew Chaplin" wrote
Tarver Engineering wrote:
"Ed Rasimus" wrote

If we were to be bound by a Constitutional Amendment to balance the
budget every year, we would be left unable to respond to exceptional
circumstances such as 9/11.

Any such amendment would be extreemly deflationary.

Flat-out ruinous, frankly, and therefore foolish. Balanced budgets are
a good idea, but not everything that affects spending requirements is
in the government's control, so they need the flexibility -- the
borrowing power -- to deal with the things that are not.

Thus my suggestion that the budget should be balanced at least two
years out of seven.

If we pay down the debt, we get a free 300 billion.