Indebtedness

Why I Don't Like Bill Richardson - Ezra Klein

I do have to agree with Klein here and say that a balanced-budget amendment is absolute horseshit. That said, I do think a bill or amendment along the lines of limiting deficits is a great idea. Deficits are a necessary evil of government spending. Even so, the skyrocketing deficits we have seen in the last decade are a mark of unreasonable spending with few of the benefits of such spending actually affecting the economy and improving the lot of the majority of Americans. Responsible people are able to figure out how to run their households every day. Why can't we take some of this knowhow and apply it to the federal budget? At the same time, deficit spending can have positive affects on the economy and the wellbeing of the people. What this calls for is a sense of balance between a tight budget and a deficit budget.