Mike Coffman’s balanced budget amendment is a misleading promise; focus on budget deficit
During the 2010 campaign, Republicans Ken Buck and U.S. Rep. Mike Coffman (CD 6) wasted a lot of time talking about a balanced budget amendment. Coffman is trying to lead a movement in the U.S. House to put a balanced budget amendment in the U.S. Constitution. Senate Republicans are grandstanding on the misleading promise to pass a balanced budget amendment instead of getting serious about budget cutting. While I believe we must reduce the nation's deficit and debt, I also believe that politicians who grandstand on the balanced budget amendment need to told to stop trying to win headlines with their false promises. In the internet era, such foolishness won't wear well with voters. Bloomberg points out that even the most serious budget cutters think that the goal must be to cut the budget deficit to less than 3% of gross domestic product. It's now about 9%. Here is a good, short summary of what economists and various budget panels and commissions think should be done and what they think is doable: Balanced-budget dream will take decades even for deficit hawks, by Brian Faler.
I think the constitutional amendment we need, is for presidential candidates to get a minimum of a 3.2 in an approved Econ 101 class.
Even if a balanced budget amendment were viable, it is a stupid idea. I’m too bloated after Thanksgiving to elaborate. The answer is in the second week of Macro 101.
So there should actually be two mandated courses, Micro and Macro.Posted by Laura Victoria on 11/26/2010 at 01:40 PM