Friday, November 18, 2011

Balanced budget amendment

The country will suffer mightily if the federal  government continues to be unable (or is it unwilling?) to operate with even a modicum of fiscal sanity.  But a balanced budget amendment is not the way to go because fiscal sanity is not the same as a balanced budget.  Dave Nicklaus has an interesting take on the analogy of the family budget.

Personally, I don't believe the doomsday scenario depicted by Nicklaus because it seems based on an immediate implementation of such a budget rather than it being phased in.  But I think he's right that "(a) vote against this amendment is not a vote for profligacy, it's a vote for common sense."  I certainly agree that Congress and the President need to be reigned in, but this is too blunt and ham-fisted.