Posted inCurrent affairs
The U.S. is about to get a balanced budget catastrophe
The House Republicans appear to be poised to pass a bill that would forbid increases in the federal debt limit beyond six months from now unless Congress sends out to the states for ratification a balanced budget amendment to the Constitution. This will never happen. There aren't enough votes in the Senate, and maybe even the House (two-thirds), to approve the amendment. And I predict that if the federal debt limit isn't raised by August 2, as appears increasingly likely, American voters will be horrified by the prospect of a balanced budget amendment -- dooming this foolish proposal forever. Why?…
