Balanced Budget Amendment


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Balanced Budget Amendment

A proposed amendment to the United States Constitution that would require the federal budget to be in balance or in surplus every fiscal year. Several different versions of the balanced budget amendment have been proposed, and most states have implemented a version of it. Proponents argue it would encourage fiscal responsibility, while critics contend investing with borrowed money can sometimes be beneficial.
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Debt ceiling increase of up to 2.8 trillion dollarspending cuts of roughly one trillion dollarsote on the Balanced Budget Amendment pecial committee to recommend cuts of 1.8 trillion dollars.
state has some sort of balanced budget amendment which requires that current revenues equal expenditures on operating budgets over some fixed, short horizon (usually one or two years).
A strong fiscal conservative, the congressman has also introduced the Buchanan Balanced Budget Amendment Act to require a balanced federal budget and the Earmark Accountability and Reform Act to reform the process through which federal funds are "earmarked" for pet projects.
The RSC outlined IO goals for the 2006 legislative session, including passing a balanced budget amendment, matching all emergency spending supplemental bills with spending reductions, eliminating a federal program for each new one created, making the Bush tax cuts permanent, budgeting a "rainy day fund," instituting a constitutional line-item veto, making budget resolutions legally binding, and one item that doesn't have anything to do with limited government or fiscal restraint: passing a constitutional ban on gay marriage.
The President's budget also provides no answer on the expiration of the Balanced Budget Amendment changes that provided relief on Medicare payments to nursing homes and other facilities.
Hospitals across the board saw their finances worsen in 1999 in the wake of the Balanced Budget Amendment; nearly half are now operating in the red, notes Chenoweth.
In subsequent years, Republicans and Democrats repeatedly battled over budget policy, deficits became the rule of the day and battles raged on about how deficits should be addressed, bringing to the forefront reform measures such as entitlement caps and a balanced budget amendment (Schick, p.
A fierce campaigner for federal spending cuts, the Silicon Valley Republican proudly touts his National Taxpayers Union ranking as "the cheapest member of Congress." "In 1992 and 1998," he brags, "I was the absolute lowest spender in Congress." Campbell's a big backer of the Balanced Budget Amendment. He wants to replace the federal income tax with a sales tax.
Balanced budget amendment supporters frequently cite the experience of the states, most of which have statutory or constitutional balanced budget restrictions.(1) In this article, I question how the state experience with balanced budget restrictions can inform the federal debate on a balanced budget amendment.
On the state level, Medicaid waivers for working people are beginning to appear at state discretion as a result of the Balanced Budget Amendment of 1997.
Roth said he didn't agree with the recent suggestions by House Majority Whip Tom DeLay (R-Texas) that tax cuts be delayed until after a balanced budget amendment is enacted.