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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsVOTE IS TODAY: Bust the budget then vote to balance it: GOP's shameless bid to shred safety net
VOTE on Balanced Budget Amendment is TODAY:https://www.usatoday.com/story/opinion/2018/04/11/gop-balanced-budget-amendment-shred-medicare-social-security-column/497678002/
The balanced budget amendment is a shameless GOP attempt to shred Social Security and the whole safety net after busting the federal budget with massive tax cuts.
Speaker Paul Ryan and House Republicans plan to force a vote a federal balanced budget amendment this week, but Americans should not be fooled by this move. This amendment is not about budgeting or balance. Its about pushing an extreme agenda that would lead to a constitutional and economic catastrophe.
On the surface, a federal balanced budget amendment (BBA) sounds like a reasonable idea. In reality though, it is horrible public policy that will hurt American families, sabotage our nations economy, and weaken confidence in our Constitution.
A constitutional amendment requiring a balanced budget is very different from how the average American family balances its own budget. In fact, most American families do not actually balance their budgets. Instead, they balance their checkbooks. We take out loans when we buy a house, send our kids to college, buy a car, or when there is a family emergency. With a BBA, the federal government could not borrow and raise money like this when there is a crisis. This is especially dangerous when our nation needs to spend extra money to respond to a national security crisis, a natural disaster, or a sudden change in the economy.
It became increasingly clear after Republicans in Congress passed their tax bill last year, adding over $1 trillion to the annual federal deficit, that they did not care about the cumulative federal debt. Suddenly, after burying the nation in more debt by cutting taxes, with most of the benefits going to the wealthy and large corporations, they propose a constitutional amendment that would force cuts to important programs like Social Security, Medicare, Medicaid and military retirement benefits.
Farmer-Rick
(10,202 posts)We don't need to pay for loans. We could just create a US bank and and use the profits to cover our expenses. We could do away with the federal reserve banks and all the profits going to Rothschild, Lazard brothers, Seif, Warburg, Loeb, Goldman Sachs and Chase Manhattan could go to we the people.
But then the capitalist would not like giving up an opportunity for making profit off the teet of the US government.
cutroot
(876 posts)LonePirate
(13,431 posts)AJT
(5,240 posts)It won't happen.
CousinIT
(9,256 posts)At which time the Constitution could be amended any way the Koch Bros want...
https://www.democraticunderground.com/100210482030
AJT
(5,240 posts)CousinIT
(9,256 posts)There are 2 separate but related groups calling for a Balanced Budget Amendment to the US Constitution via an Article V Convention of States: the Balanced Budget Amendment Task Force (BBATF) & the Convention of States Project (COSP) funded by Citizens for Self Governance.
Per the Economist, both BBATF and the much more recent (but better funded and even more radical) COSP expect to have the necessary 34 states to call a Convention of States aka Constitutional Convention by the end of 2019!
America might see a new constitutional convention in a few years
https://www.economist.com/news/briefing/21729735-if-it-did-would-be-dangerous-thing-america-might-see-new-constitutional-convention
poboy2
(2,078 posts)Lots of people will die I guess. Oh well, we had a good run. Rotten foundation might be a 'tear down'.
So criminal...will no one stop them?