A balanced budget amendment to the Constitution?

[pghin08]

http://www.rules.house.gov/Media/fil...0ct%201206.pdf

This is the debt deal that is going to the Senate today. Read Title II (pgs. 27-30). Are we really talking about adding an amendment to the Constitution stating that the fiscal year budget must balance? Am I reading this right?

[jyosi]

The federal government is going to have budget problems forever. The only matter will be how public the problems are. Did you know that the federal government doesn't get audited? Local and state governments get audits, public companies gets audits, but the federal government doesn't get audited. Why? Their defense is that there are too many top secret programs so it can't be audited in fear of the secret getting loose. A balanced budget without a third party audit doesn't mean anything except that the government accounts know how to allocate the difference to make the books balance. Accounting is about detail, and if you can't even tell accountants where money is being spent because it is top secret a balanced budget is fictional.

And yes, what you think page 27 says is what it sounds like and it is completely freaking laughable.

[pghin08]

The federal government is going to have budget problems forever. The only matter will be how public the problems are. Did you know that the federal government doesn't get audited? Local and state governments get audits, public companies gets audits, but the federal government doesn't get audited. Why? Their defense is that there are too many top secret programs so it can't be audited in fear of the secret getting loose. A balanced budget without a third party audit doesn't mean anything except that the government accounts know how to allocate the difference to make the books balance. Accounting is about detail, and if you can't even tell accountants where money is being spent because it is top secret a balanced budget is fictional.

And yes, what you think page 27 says is what it sounds like and it is completely freaking laughable.

I don't even know who would have the capacity to audit the US.

[jyosi]

Someone has the capacity to audit GE and every other giant conglomerate in the world. Auditing the federal government may take cooperation from a handful of firms to get it done, but it could get done. The government will never allow it anyway.

[OnePimpTiger]

*GASP* You mean we would not be able to spend more than we earned? How in the world would that ever help?

[pghin08]

*GASP* You mean we would not be able to spend more than we earned? How in the world would that ever help?

I'm sure there would be loopholes. But it's at least a step towards fiscal responsibility.