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Complete Classmate Response in Public Budgeting, business and finance homework help
POST 1:
A balanced budget amendment would require that the FED not spend more than it takes in revenue (U.S News, 2011). Supporters of the balanced budget amendment argue that it would force the FED to become more fiscally responsible with its spending. In theory that all sounds fine and dandy until you consider the fact that over the past decade, economic growth in the U.S has been at a snail’s pace (U.S News, 2011). In addition, we have been in a recession since late 2009 (Sharma, 2011). Lastly tax revenue is down (Sharma, 2011). So, while I’m all for a balanced budget amendment to the constitution, it should include provisions for economic downturns, defense spending and low tax revenues for instance to stave off the bickering that would take place in the event that the president or congress requests emergency funding for the above mentioned (Sharma, 2011).
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Sharma, P. (2011, November 23). Dangers of a Balanced Budget Amendment. Retrieved February 2, 2017, from U.S News: http://www.usnews.com/debate-club/does-the-united-…
U.S News. (2011, November 23). Does the United States Need a Balanced Budget Amendment? Retrieved February 2, 2017, from U.S News: http://www.usnews.com/debate-club/does-the-united-…
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