No, but it is a very big part of the key.
Right now, the Democrats and some of the liberal Republicans think excessive spending and deficits are painless and will never matter.
But if there is a Balanced Budget Amendment, there are still Democrats, probably few even liberal Republicans, willing to raise taxes to the stratosphere.
Yet this is key. Democrats think taxes are strictly to punish those they hate. They do not care about raising revenues. So their tax policies are worthless.
Only those that understand taxes get that taxes that do not result in revenues must be eliminated.
So the fools might try to raised taxes to 500% of revenues and other income. But with no money rolling in, if they cannot deficit spend, there is nothing left to spend.
The _federal_reserve_ is the food which created the deep, dark state. It is the illusion which fuels the cancer which is unconstitutional DC.