Wyoming Liberty Group

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Benefits and Burdens of a Balanced Budget Amendment

Charlie Katebi and Glenn Woods of Boldrepublic.com discuss recent efforts by state legislatures to add a Balanced Budget Amendment to the Constitution and the impact it would have on our fiscal future.

 

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Urgency: U.S. Deficit Rising Faster than Expected

Today Tuesday the House will hold its second reading of HB75, the Compact for a Balanced Budget bill that proposes a debt-limitation balanced budget amendment to the U.S. Constitution.

Yesterday's first reading included a vigorous debate, demonstrating that this is an issue the members of the House take very seriously. The vote, 35-23, also shows that while the idea of a balanced budget amendment is accepted in principle, there is still some hesitation as to whether or not the Compact is the right way to go.

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Closer to a Federal Balanced Budget Amendment

This morning the House Revenue Committee passed HB0075 and HJ004, both proposing a so called Article V venue to put a balanced-budget amendment on the U.S. constitution. The two bills share the same goal, and the organizations that provide the background material - Compact for America (HB75) and the Balanced Budget Amendment Task Force (HJ4) - are for all intents and purposes fellow travellers. There is one major difference, though, between the two alternatives: the Compact model comes with a ready-to-go amendment; the Task Force, on the other hand, would leave it to the Article V Convention to draft the amendment.

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