The arguments against a constitutional amendment to require balanced budgets are various and, cumulatively, almost conclusive. Almost. The main arguments are:
The Constitution should be amended rarely and reluctantly. Constitutionalizing fiscal policy is a dubious undertaking. Unless carefully crafted, such an amendment might instead be a constant driver of tax increases. A carefully crafted amendment that minimizes this risk could not pass until Republicans have two-thirds majorities in both houses of Congress,which they have not had since 1871.
No comments:
Post a Comment