Why a balanced budget amendment is a bad idea

[MRoCkEd]

Whenever the issue of the balanced budget amendment arises again, the political and economic arguments are certain to dominate the debate. Ultimately, however, it is the nuts and bolts of accounting that renders the amendment infeasible. Reducing the nation’s debt and deficit will require our legislators to make the tough choices as to which taxes to increase and which expenditures to cut. The balanced budget amendment, however, will likely lead more to fiscal deception than fiscal discipline.


Full Article: http://texasenterprise.org/article/balancing-act