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WCGreen

(45,558 posts)
66. The problem with balanced budgets for the federal government is that they
Thu Aug 2, 2012, 03:15 PM
Aug 2012

have obligations that have to be taken care of in order to keep our society running somewhat smoothly. If the budget was, by law, to be in balance then what would happen to say the military or the flood relief or the welfare of people which, btw, assures at least a somewhat peaceful society, if there were a drop off in revenue due to an economic downturn.

If the government goes down then the basic rules of our society will fall down.

Another for instance the courts would go away, the prison system would be at risk. If the government can't borrow, because that is basically the only way to have a balanced budget year by year, what happens if the revenue falls short for one month to the next.

There are all sorts of practical reason such as how to insure just basic continuity in service to no Social Security, even for those who have already paid into the program. But the government borrows every day on short term bonds just to get through money crunch times.

If there were to be a balanced budget required, they couldn't really borrow because you are basing what you need on a day to day basis with what you are EXPECTING to come in in the short term. That inevitably results in deficit spending from one fiscal year to the next.

dumbest idea ever hfojvt Aug 2012 #1
Thanks, not much grey area there. zzaapp Aug 2012 #5
It could be... dogknob Aug 2012 #12
There will always be an exemption for war spending... Wounded Bear Aug 2012 #46
I've been gathering information and asking opinions. zzaapp Aug 2012 #59
Precisely Sherman A1 Aug 2012 #44
Thanks Sherman zzaapp Aug 2012 #60
Demagoguery for folks who are economically illiterate and thus buy the coalition_unwilling Aug 2012 #2
There it is ... 1StrongBlackMan Aug 2012 #18
it's a bad idea. barbtries Aug 2012 #3
Imposible during a recession or when your infrastructure's falling down TrogL Aug 2012 #4
Really dumb. Amak8 Aug 2012 #6
No it doesn't make sense. zzaapp Aug 2012 #8
I'm against it 100%. sinkingfeeling Aug 2012 #7
How is that more important than a JOBS PROGRAM? nt valerief Aug 2012 #9
It's not. zzaapp Aug 2012 #11
Whoa Whoa !! I wasn't suggesting one. zzaapp Aug 2012 #10
Found this on one of my Liberal blogs...Interesting. zzaapp Aug 2012 #13
True Headline, Sir: Polls Show People Know As Much About Macro-Economics as A Dog Knows About Chess The Magistrate Aug 2012 #16
lol zzaapp Aug 2012 #20
Checkmate, my dear sir... Jeff In Milwaukee Aug 2012 #34
Touche, Sir: Well Played Indeed The Magistrate Aug 2012 #38
I don't know if I can find two more chess-playing dogs... Jeff In Milwaukee Aug 2012 #42
I wouldn't play him !!! Cold eyes. zzaapp Aug 2012 #43
(...can't be a very smart dog--he's got the queen on the wrong colored square... lastlib Aug 2012 #78
Friggin' LOL! Jeff In Milwaukee Aug 2012 #83
Found on one of your "Liberal blogs"? tkmorris Aug 2012 #22
Thanks, I actually found it on "Classic Liberal", that's what confused me. zzaapp Aug 2012 #23
Classic Liberal is not a Liberal blog tkmorris Aug 2012 #24
ooops fooled again. sorry, disregard my last post. zzaapp Aug 2012 #26
BTW...no need to be nasty. zzaapp Aug 2012 #25
I don't think he was being "nasty" just informative. SalviaBlue Aug 2012 #27
SB, I DID apologize, it was my fault for being confused zzaapp Aug 2012 #28
Confused? HangOnKids Aug 2012 #45
Yes I was confused as to the nature of the blog. zzaapp Aug 2012 #49
You post a Goodbye Cruel World Thread HangOnKids Aug 2012 #51
You have been reported. zzaapp Aug 2012 #54
Oh My HangOnKids Aug 2012 #56
Fair enough. I apologize for that. tkmorris Aug 2012 #48
Tk...no worries. zzaapp Aug 2012 #50
My quick response is ... 1StrongBlackMan Aug 2012 #14
Aside from what's already mentioned-- such an amendment won't stop debt... TreasonousBastard Aug 2012 #15
Balanced budget amendment is code for cutting social programs. hay rick Aug 2012 #17
It's a ridiculous idea. lastlib Aug 2012 #19
Bad idea....there's no way to do it without increasing revenue. Avalux Aug 2012 #21
both parties? Enrique Aug 2012 #29
I guess we can start here. zzaapp Aug 2012 #30
that's an example of the GOP proposing it and failing Enrique Aug 2012 #32
I didn't pose this question to confront anyone or to propose that zzaapp Aug 2012 #36
Thanks to all, very informative. zzaapp Aug 2012 #31
Why should we declare war on Iceland every year? ieoeja Aug 2012 #33
I don't think that learning is preposterous. zzaapp Aug 2012 #39
Not a good idea nadinbrzezinski Aug 2012 #35
Good points, thanks. zzaapp Aug 2012 #41
Typical Repub bullshit Th1onein Aug 2012 #37
"Typical Repub bullshit" zzaapp Aug 2012 #40
You are just looking for a fight aren't you? HangOnKids Aug 2012 #47
Please don't interrupt an interesting, civil discussion. zzaapp Aug 2012 #53
You can't be serious. Th1onein Aug 2012 #82
Final nail in our coffin. Thankfully there is no way to get an Amendment through the process Egalitarian Thug Aug 2012 #52
EG..no I didn't know that...looking it up now. Thanks zzaapp Aug 2012 #55
Looked it up....good call. Learn something everyday. zzaapp Aug 2012 #57
Not a fiscally reponsible idea for the Fed. States OK demosincebirth Aug 2012 #58
I'm curious about that. zzaapp Aug 2012 #61
It's bullshit. Most households don't even keep a balanced budget. HopeHoops Aug 2012 #62
They shouldn't. Thanks zzaapp Aug 2012 #64
I think it's just window dressing. CBHagman Aug 2012 #63
well said. zzaapp Aug 2012 #65
The problem with balanced budgets for the federal government is that they WCGreen Aug 2012 #66
I understand...but haven't we always had deficit spending? zzaapp Aug 2012 #68
Yes and we have always been able to carry a deficit from one fiscal year to the next.... WCGreen Aug 2012 #70
Does that deficit grow year to year? zzaapp Aug 2012 #71
From one year to the next. Especially if the cash flow is low at the end of the WCGreen Aug 2012 #80
I appreciate it, very informative, thanks zzaapp Aug 2012 #84
Both parties think it's a good idea? JustABozoOnThisBus Aug 2012 #67
Thanks for your input....that's been covered. zzaapp Aug 2012 #69
Gee I had the same feeling Bozo HangOnKids Aug 2012 #72
Oh no......please feel free to join in...as long as you are civil. zzaapp Aug 2012 #73
How Did Your "Reporting" Turn Out? HangOnKids Aug 2012 #74
Go away, or I will taunt you for a second time. zzaapp Aug 2012 #75
Anyone who supports a balanced budget amendment doesn't understand the issue. Motown_Johnny Aug 2012 #76
Pithy And Perfect HangOnKids Aug 2012 #77
It is diddling with the symptoms and does nothing to address the root cause of the problem. RC Aug 2012 #79
Balnced budgets are overrated and would mainly benefit conservatives. craigmatic Aug 2012 #81
You should never setup arbitrary budget rules CabCurious Aug 2012 #85
It's a bad idea as it limits government's ability to respond to an economic crisis. JVS Aug 2012 #86
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