How in the world did the US Federal government ever achieve a balanced budget and how can they go about ever doing it again?

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Follow up: is it realistically achievable ever again, and should it even be a goal to be concerned with?

In: Economics

16 Answers

Anonymous 0 Comments

Honestly? I think if we look to Washington DC for this, we will be shit out of luck. Politicians on both sides are in the pocket of so many lobbyists, and they are addicted to spending our money to curry favor with whichever city, state, company, or special interest that can help their next election. This is 100% bipartisan: Democrats spend like drunken sailors on 48 hours shore leave, and so do the Republicans in exactly the same manner.

There’s only one way out, even if it takes decades to get this to work: we need 34 states to call a Convention of States for proposing Amendments to the Constitution, and we need 38 states to ratify them. This process is the final emergency brake on the greed and corruption of DC, placed there by the Founders for just this emergency.

Regardless of your political affiliation, I would humbly ask you to have a look at [Convention of States](https://conventionofstates.com/) to understand how this could work. There’s always been a concern about a “runaway convention” but this process would still need 3/4ths of the States to ratify, so this can prevent any craziness. The CoS folks also want to limit the discussions to proposed Amendment that would “limit the power and jurisdiction of the federal government, impose fiscal restraints, and place term limits on federal officials.” Think about how this would help balance the budget? (1) Clarify where the federal government can spend our money, (2) this topic directly, and (3) drain the swamp.

Anyone got any better ideas?

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