Tuesday, May 31, 2011

A Conservative case against the Balanced Budget Amendment: Borrowing, Tax Increases, Debt, Defense Cuts...

At first glance, the passing of a Balanced Budget Amendment to the US Constitution would appear to be a powerful weapon in the Conservative battle for budgetary fiscal stability. However, a Balanced Budget Amendment might also become an institutional tool used by Statists demanding to close the deficit by raising revenue with progressive tax increases on the "rich." A Balanced Budget Amendment could be the legal means by which the Liberals have a duty-bound Constitutional precedent to redistribute private property to the always feasting non-producing Entitlementarians.
Careful what you wish for...

----------------------------
The fiscal mess that is the state of California has a Balanced Budget Amendment...

----------------------------
The Law of Unintended Consequences...
- Major cuts in defense spending
- Tax increases

----------------------------
The Balance Budget Amendment can be circumvented with increased borrowing.
Thus, the debt can grow under a Balanced Budget Amendment...

----------------------------
Walter E. Williams suggests to Mark Levin that talk of a Balanced Budget Amendment might be a short term "cop out"