O'Reilly logo

Deficit: Why Should I Care? by Marie Bussing-Burks

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Balance the Budget

Perhaps the simplest way to get rid of budget deficits, and consequently the growth in the national debt, is to require a balanced budget. Over the past few years, with the rise of the debt limit, the discussion of having a balanced-budget amendment to the U.S. Constitution has emerged. In reality, such an amendment would be difficult to enforce, because it requires balancing a future estimated budget. This means next year's estimated revenues must equal next year's estimated spending. The budget is actually balanced at the end of the fiscal year. A balanced-budget amendment would require that tough choices be made in the political arena on both the revenue and spending sides.

Back in 1997, support for a balanced-budget amendment ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required