Absolutely. A better approach to a balanced budget amendment would be to limit what portions of the federal budget would be exempt from a balanced budget amendment, or ensure that there were methods to suspend the rule for situations like economic crisis. I would steer clear of the first one though, as entitlements like Social Security and Medicare/aid are hot button for both power parties, and trying to broker a deal to make it exempt would all but stall the idea. Having a super majority suspension option though, would be helpful.
I know it's political taboo for many, but looking to other countries is a great idea. I always default to Switzerland or the Scandinavian countries, and looking now, today is not an exception. Switzerland has a unique take on the runaway budget/debt problem. Rather than force a balanced budget, they have a "Debt Brake" system. It's less of a "Let's jump straight to the most extreme", and more of an incremental step. Here's more about it.
Absolutely. A better approach to a balanced budget amendment would be to limit what portions of the federal budget would be exempt from a balanced budget amendment, or ensure that there were methods to suspend the rule for situations like economic crisis. I would steer clear of the first one though, as entitlements like Social Security and Medicare/aid are hot button for both power parties, and trying to broker a deal to make it exempt would all but stall the idea. Having a super majority suspension option though, would be helpful.
I know it's political taboo for many, but looking to other countries is a great idea. I always default to Switzerland or the Scandinavian countries, and looking now, today is not an exception. Switzerland has a unique take on the runaway budget/debt problem. Rather than force a balanced budget, they have a "Debt Brake" system. It's less of a "Let's jump straight to the most extreme", and more of an incremental step. Here's more about it.