Balanced Budget Amendment

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  • Balanced Budget Amendment

    1341 Words  | 6 Pages

    As we discussed and read about this week in our class, the topic of the US Budget and how, why and what should we do about it has become a topic with many views and opinions. The United States of America currently holds over 16 Trillion dollars in debt based on our governments spending practices for the last ten years. Two wars, numerous fiscal collapses and cliffs, a bubble popped housing market, looming medical care costs from a socialized healthcare law and a recession have caused the government

  • Balanced Budget Amendment Research Paper

    1371 Words  | 6 Pages

    Kelly Ngo Professor J. Brent Pol 1 December 11, 2015 No on Balanced Budget Amendment Our National debt has been increasing at an alarming rate with no sign of it slowing down. The debt limit has been raised 74 times in the last 50 years and 10 times in the last 10 (Gale 11). The National debt has accumulated over $18 trillion. In a data collected by Times Magazine, it showed that if the cost of four years of public college tuition, room and board in the U.S. is $60,088 and our debt could cover four

  • Government, Economics, and Fiscal Policy Essay

    1271 Words  | 6 Pages

    billion over the coming decade is the net effect of $447 billion in additional spending and tax cuts” (Congressional Budget Office). Why so little return for the amount of money being spent? Almost a half trillion dollars are being spent and only 6 billion dollars are being reduced from the deficit. This bill is leaving something out. Americans know the value of a balanced budget. If no more money is spent than brought in the creditors do not bother to call. But for those who spend more than they

  • Nebraska State Budget

    2755 Words  | 12 Pages

    Nebraska has a biennium budget that is set from 2013 all the way to 2015. Knowing what is in your budget and how to properly gauge what will be needed for the coming two years in each department is an important aspect to a successful budget. The person in charge of the budget for each department needs to know how to properly budget and respond to the needs of the state in the most fiscal way possible. A budget is only as good as the person who is running it. The Nebraska State budget is complex, but with

  • No Taxation Without Representation On Future Americans

    1327 Words  | 6 Pages

    spending. Without a say in this fiscal burden being passed to them, the lack of a balanced budget is in effect, taxation without representation on future Americans. My proposed amendment to the United States Constitution would create a requirement for a balanced national budget each year. This is the most fundamental solution to our nation’s unsustainable debt. There are many reasons for the necessity of this amendment, including the reduced debt, increased investments in our country, heightened national

  • Pros And Cons Of A Balanced Budget

    1397 Words  | 6 Pages

    Macroeconomic Policy 4/21/17 Pros and Cons of a Balanced Budget In 1995, US Congressional lawmakers introduced an amendment to the United States Constitution that would restrict federal spending to the sum of its collected revenues in any given fiscal year. The “Balanced Budget Amendment” would’ve taken full effect in 2002, guaranteeing a balanced federal budget unless a budgetary deficit was approved by two thirds of the Senate . The proposed amendment passed the House of Representatives but came

  • Pros And Cons Of Government Spending

    586 Words  | 3 Pages

    too. I believe that the most pressing problem of today's government is the federal debt. That is why I am proposing a new amendment to limit the government's spending and decrease the federal debt. If America’s debt continues to rise at the speed as it has the last decade, the debt and interest will increase and money spent on government services will decrease.This amendment would limit the power and constrain the government from spending. Spending tends to lead to more agencies, regulations, more

  • Balanced Budget Arguement Analysis

    1178 Words  | 5 Pages

    more money each year then what is being brought in. A 2001 online article, The Answer is a Balanced Budget amendment found on said that the United States is on the road to bankruptcy, with a federal debt of more than $14.2 trillion and the only way to fix this mess is to radically cut federal spending, cap the budget with pay-as-you-go spending rules, and then enact a balanced budget amendment (BBA). This is most definitely an argument that has been around for a while, many agree while

  • Public Finance

    1387 Words  | 6 Pages

    PART ONE In 1936, Republican Representative Harold Knuston of Minnesota proposed what would be the first constitutional amendment to balance the federal budget. The Knutson resolution would have established a per capita limit on all

  • Philadelphia Convention Essay

    661 Words  | 3 Pages

    want this convention to happen is so that they can add an amendment to the constitution that would require a balanced federal budget. However, many believe that if a convention was called to amend the constitution it could get out of hand very quickly especially since there is no precedent to it. All of this is made possible due to a clause in the constitution called Article 5, which allows states to draft their own constitutional amendments without