Balanced budget amendment(s)
POSTED BY: NewOldBrownCoat
UPDATED: Wednesday, September 6, 2023 03:38
VIEWED: 1687
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found this over on SLATE, an analysis of two B B A proposals, one from 1995 that Dems supported, and one from last month, that R's and TPers were favoring. Interesting differences, interesting commentary.
http://www.slate.com/blogs/weigel/2011/07/11/all_balanced_budget_amend
ments_are_not_created_equal.html
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I see the whole thing as political theater. Even if a proposal passed the Congress, when it got to the states, they'd say "You want to cut funding how much, and expect state governments to pay for the seervices you'll no longer provide? No way in hell!".
"Keep the Shiny side up"
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A federal balanced budget amendment would hurt this country. Economist will tell you that federal spending levels should be counter cyclic. That is spend less when the economy is strong and revenues are up, and spend more when the economy is weak and revenues are down. I know that sounds counter intuitive but the thinking is that reducing spending when things are good helps cool the economy and prevents bubbles. (Along with regulations) Then spending when the things are down helps support the down economy.
You also have issues like war and natural disasters that can cost huge amounts of money that are not budgeted for.
I do not fear God, I fear the ignorance of man.
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Quote:
Originally posted by m52nickerson:
A federal balanced budget amendment would hurt this country. Economist will tell you that federal spending levels should be counter cyclic. That is spend less when the economy is strong and revenues are up, and spend more when the economy is weak and revenues are down. I know that sounds counter intuitive but the thinking is that reducing spending when things are good helps cool the economy and prevents bubbles. (Along with regulations) Then spending when the things are down helps support the down economy.
You also have issues like war and natural disasters that can cost huge amounts of money that are not budgeted for.
I do not fear God, I fear the ignorance of man.
I pretty much agree with you, and in fact, don't support either version. I was interested in seeing the text of both proposals, and seeing where the differences are, interpreting what the changes mean.
The newest version really mandates shrinking government: no other solution will resolve its requirement to balance the budget with the obstacles it places in the path of raising revenue.
And you're right: balancing the budget is an intuitively correct idea, but economic theory is counter- intuitive: that doesn't make it wrong, just harder to see and understand how it must work, and what we must to to improve the situation.
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Congrats, we are the proud owners of the new Presidential Dictatorship.
Quote:
The Super Congress amounts to an institutionalization of the gang structure that exists informally in the Senate, where a small number of lawmakers write legislation behind closed doors and then announce it to the public। Legislation written by the Super Congress would be extremely difficult for individual members of Congress to stop.
http://www.huffingtonpost.com/2011/07/25/super-congress-debt_n_909018.
html?1311626737
http://www.infowars.com/super-congress-an-institutionalization-of-gang
-structure/
The Ceremonial Congress can now go on recess while the Shadow Govt handles business as usual.
Quote:
Middle classes to be hit by tax increase by the back door: Obama and Boehner face furious backlash from their own parties. Deal slammed a 'sugar-coated Satan sandwich' by Congress.
http://www.dailymail.co.uk/news/article-2020959/US-debt-ceiling-crisis
-Obama-Boehner-face-backlash-fudged-minute-deal.html
After Hours party at Bohemian Grove. Bring your Birthday Suit.
The foreign "Federal" Reserve Bank shall continue to countereit all money and keep all income taxes.
The Six Wars shall continue.
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Really, Inforwars and The Daily Mail. Let me laugh a little harder.
I do not fear God, I fear the ignorance of man.
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Nick, it stops being funny when you realize that those crazy bastards are overall more accurate (once you discard the obvious bullshit) than the mainstream media-propaganda engines, and most breaking stories regarding political chicanery and corruption are actually broken by "the lunatic fringe" and only reluctantly, if at all, picked up by main media once the evidence is undeniable.
Case in point, Truthout's followup on the Ohio MTM vote shafting back in 2004, with the actual documents - it's pretty fucking damning, but you won't see a peep of it from the mainstream, nope.
http://www.truth-out.org/new-court-filing-reveals-how-2004-ohio-presid
ential-election-was-hacked/1311603015
Remember also, that while the mainstream was screaming WMD! WMD! and flower throwing iraqis and home by xmas...
That the so-called crazies were calling BULLSHIT!, saying quagmire, and predicting in chapter and verse detail the disaster that did unfold.
http://tvtropes.org/pmwiki/pmwiki.php/Main/TheCuckoolanderWasRight
That's when it stops bein funny, and starts being...
Kinda scary.
-Frem
I do not serve the Blind God.
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Excellent, NewOld; the differences between the two BBAs are scary, to say the least. And I like how they snuck health care in. By hook or by crook... Quote:
Pivotal point, Geezer; right on.
I see the whole thing as political theater. Even if a proposal passed the Congress, when it got to the states, they'd say "You want to cut funding how much, and expect state governments to pay for the seervices you'll no longer provide? No way in hell!".
Nick, it's great to have you here! Eloquent and right on point as usual. Ironically, I wish you WERE a Republican; we desperately need someone as reasoned as you on the other side to have decent debates. More and more, however, I'm doubting that there IS such a person...sadly. As to what PN puts up, I've been told he gets paid when anyone goes to any of the links he posts--just so's you know. Laugh harder, while you're at it, but don't GO to the links! I usually just scroll past him; makes for a sore scrolling finger, but less time lost searching forever for any valid points!
Frem, while I agree with you to a point, please know it wasn't just the kooks saying "Bullshit!" It was an awful lot of us, just not enough of us to be heard, and Infowars, etc., defeat themselves with so much absurd crap that it's not surprising nobody but the other kooks pays them any attention.
Hippie Operative Nikovich Nikita Nicovna Talibani,
Contracted Agent of Veritas Oilspillus, code name “Nike”,
signing off 
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Quote:
Originally posted by Fremdfirma:
Nick, it stops being funny when you realize that those crazy bastards are overall more accurate (once you discard the obvious bullshit) than the mainstream media-propaganda engines, and most breaking stories regarding political chicanery and corruption are actually broken by "the lunatic fringe" and only reluctantly, if at all, picked up by main media once the evidence is undeniable.
I don't know about overall, but ever a broken clock is right twice a day.
I do not fear God, I fear the ignorance of man.
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Quote:
Originally posted by Niki2:
I wish you WERE a Republican; we desperately need someone as reasoned as you on the other side to have decent debates.
I could pretend to be one, I enjoy playing devil's advocate.
I do not fear God, I fear the ignorance of man.
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