Sallow
The Big Bad Wolf.
Yeah, well, the OP started with the Balanced Budget Amendment and that my friend is idiocy.
That he did.
And like I pointed out..throwing out the baby with the bath water isn't exactly bright either.
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Yeah, well, the OP started with the Balanced Budget Amendment and that my friend is idiocy.
I've got a better plan
CUT SPENDING!
That's not a plan, that's a catch phrase. The deficit is 1.29 billion this year, give or take a few hundred million. Please show me where in the federal budget you are going to come up with this much spending to cut. Remember, Social Security has it's own revenue stream that almost every year runs a surplus.
Good luck.
I won't be holding my breath.
cause it only took us 12 years to get out of with with all that government spending.
Wrong. The Great Depression ended in March of 1933. There was however another recession in 1937
http://www.nber.org/cycles/cyclesmain.html
It will require a Constitutional Amendment that:
Yes, I know it is difficult to pass a Constitutional amendment, but I see no alternative.1) Would require a National Balanced Budget
2) Would allow deficit spending ONLY in the event of a crisis and would require a 2/3rds majority vote in Congress AND Presidential authorization.
3) Would institute a Value Added Tax, the revenues from which would apply 100% to reducing the deficit.
4) The Value Added Tax would sunset after the deficit was paid off. It could be re-instituted to pay off any new deficit spending that resulted from crisis deficit spending.
5) Would outlaw Value Added Taxes for any other purpose than paying off the deficit.
Critique.
If we abolished the IRS, how would taxes be collected?