Posted on 07/26/2011 6:52:13 AM PDT by Mike Acker
A Balanced Budget Amendment -- isn't going to happen this year... you have to pass it by 2/3 in the House and in the Senate, and then it has to be ratified by 3/4 of the States
Instead, if the debt limit is not increased -- you have the effect of a balanced budget amendment -- already in effect.
this is the alternative that we offer the democrats: clean up this fiscal mess: starting Aug. 2d
that’s what i never understood about the debt ceiling battle... without doing anything, it forces the dems to cut spending...
hello?
cut spending.
lower the debt ceiling. show moody’s we’re serious about cutting spending.
teeman
right, by 40%! Let’s go, no increase. Now is the time to hold the line.
Obama is already campaigning For higher Taxes. He is against the highly popular Balanced Budget Amendment. Heck, he is even allergic to budgets.
What it means is that the Dems will not be able to tack to the Middle (their only hope of getting anything in the next election).
No, I am for the Amendment because it sticks it up their craw.
No debt ceiling increase means the budget is balanced? Try telling your credit card company you’re not going to pay the tab you’ve run up, and see if they think your budget is balanced.
I think that Mike is saying that either would have the same immediate effect. If a balanced budget amendment was passed, then the government expenditures could not receive its revenues and thus no debt would be taken on. If the debt ceiling is not raised, then no additional debt could be taken on.
Of course, past that it would be quite different. The balanced budget amendment would ensure that no additional debt could ever be incurred (excluding whatever exceptions are written into the amendment). However, if the debt ceiling is not raised, then the government could incur more debt once some existing debt is paid off.
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