Just imagine what the world would be like if there had been a balanced budget amendment back in 1940!
Basically, the U.S. could not have afforded to fight the wars in either Europe or or the Pacific, there would have mostly likely negotiated treaties - Germany would have retained most of Western Europe, while Imperial Japan would have retained most of the Pacific and Asia.
In short, while balancing the budget is a good idea when the economy is booming and there are no national crisises (like in 2001 when Bush was President), forcing a balanced budget in times of recession or national crisis is idiotic.
In fact, the entire notion that government deficits are bad is a bunch of bunk dreamed up by wingnuts to create a false political issue. Unfortunately, these people have a tendency to believe their own lies.
Our system of government finance is absolute genius. It is the very reason why the U.S. is the world dominant power economically, militarily, technologically and culturally!
Anyone that wants to force a major change to the system of government finance is either anti-American or an idiot!
I see the usual unthinking hysteria is taking hold.
Is there
anybody who feels (possibly excepting the poste above) that any Balanced Budget amendment would ever be passed without language saying "...except for wars declared by Congress" or some such?
NOTE: Language exccpting "wars or National Emrgencies" would be useless, of course, though highly desired by the usual Big-Govt pushers. The United States has been under a continual state of Nation Emergency since March 9, 1933, and every President since then has carefully renewed it, every year, without fail.