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Incentives are key. If Congress does not present a balanced budget then there has to be consequences. Many other countries work this way. No balanced budget for
by weard_beard 5mo ago
Incentives are key. If Congress does not present a balanced budget then there has to be consequences. Many other countries work this way. No balanced budget forthcoming? Then there is an immediate collapse of the current government or ruling party and run-off elections to replace them.
- ethbr1 5mo agoThe issue with requiring balanced budgets at the federal level is there are a number of situations where, by any economic theory, you want to run deficits. So what you really need is an impartial Fed-budgetary-counterpart arbiter that declares when balanced budget rules are and aren't in effect. And probably toss in what target percent of debt needs to be paid down too.
- weard_beard 5mo agoThe impartial arbiter is the voting public.
- ethbr1 5mo agoThe voting public doesn't know shit about economics or budgets.