Anyway, a Balanced Budget Amendment is one of the stupidest ideas ever proposed. What do you think would happen, right now, if, say, Israel nuked Iran & it turned our Iran had actually developed nukes 6 months ago, along with ICBM's, & they nuked New York?
It's silly, sure, but what if? How do you think we'd actually pay for the retaliation? The mobilizaton of troops. The ground war. The clean up. Dear God, the clean up. It'd make Katrina looks like a rain delay at a baseball game.
Given our massize current deficits, how could we possibly pay for all that if we had to balance the budget at the same time? You'd basically have to immediatly cut off all Social Security payments, end Medicare completely, end Farm & Oil subsidies, AND raise taxes to like 70% on everyone.
And that's just a worst case scenario. Imagine if we'd had a Balanced Budget Amendment 10 years ago. Forget the Bush Tax Cuts. We's have had the Bush Tax Raises. We wouldn't have Medicare Part D (maybe not a bad thing) and taxes would have automatically sky-rocketed during The Recession under Obama, instead of decreasing like they have, to fund all the Unemployment benefits & increased Food Stamp users.
Worst. Idea. Ever.