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GOP Balancing Act- A balanced budget amendment is the wrong debt solution
WSJ ^ | 7-19-11 | opinion

Posted on 07/19/2011 6:17:14 AM PDT by WOBBLY BOB

Tea party Republicans, to their credit, want to pass a BBA that would include the supermajority tax limitation. But it has no chance of passing, and absent that rule, political pressure could turn the amendment into a driver for the entitlement state as successive Democratic governments raised taxes, most likely with a European-style value-added tax to balance spending commitments.

The new Members who are intent on fiscal responsibility should visit with Congressional historians to discover a root cause of this modern spending catastrophe—the 1974 Congressional Budget and Impoundment Control Act, the most laughable title ever placed on a federal law.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: balancing; bba; budget; debt; gop; opinion; spending

1 posted on 07/19/2011 6:17:19 AM PDT by WOBBLY BOB
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To: WOBBLY BOB

I wonder who wrote this opinion piece. Probably Paul Gigot, the phony conservative who took over the editorial page.


2 posted on 07/19/2011 6:35:41 AM PDT by cotton1706
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To: WOBBLY BOB

The only way to stop this disaster is to get the Socialist Rats out of power. The make Socialism illegal. The Founders would have if they had known about it. There is no way the Socialist Parasites are not going to kill the Host. We are the Host.


3 posted on 07/19/2011 6:36:38 AM PDT by screaminsunshine (Socialism...Easier said than done.)
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To: WOBBLY BOB

No political “quarter”. Period.


4 posted on 07/19/2011 7:04:28 AM PDT by Caipirabob ( Communists... Socialists... Democrats...Traitors... Who can tell the difference?)
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To: WOBBLY BOB

The US will have a colony on Mars before an amendment like that would pass.


5 posted on 07/19/2011 7:30:03 AM PDT by radioone (How Can an Obscure Guy Who Did Diddly Squat in the Senate Become President?)
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To: WOBBLY BOB

I don’t think most of those posting a response even read the article. I think the best option is to return impoundment to the pre-Nixon status. It won’t give the President more power to spend money he doesn’t have but will give him the option of deciding what apropriated funds to athorize or defer. This unlike McConnell’s approach which appeared to be a blank check on spending allowing the President to raise the debt limit however he wished and making it extremely hard for Congress to stop him.


6 posted on 07/20/2011 11:06:58 PM PDT by Maelstorm (Better to keep your enemy in your sights than in your camp expecting him to guard your back.)
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