The Congress must pass a balanced budget amendment no later than December 2011 for ratification by the states.  The amendment must consist of the following:

·       The budget must be balanced by 2015

·       The budget must provide a provision that at time of war or other national emergency would permit an exception to the amendment if authorized by a vote of at least 2/3 of the House of Representatives.

·       All existing debt obligations must be retired by 2045.

Affirmative Argument

I always opposed the Balanced Budget Amendment, at least I did until 1994 when the mere threat of the amendment brought such fear to the president that the budget was balanced and we ran at a surplus for several years.  Unfortunately, the requirements for a person to qualify to run for Congress are less than for president.  Those persons who actually achieve the rank of either Senator or Representative have consistently demonstrated that collectively they lack the judgment and lack the economic grounding to ensure the nation’s fiscal health.  Every time moves are made to increase tax revenues those new revenues are not used to retire debt but instead they are used to expand entitlement programs or discretionary spending that further obligates and burdens taxpayers.

With the level of current entitlements and the $14 trillion debt we cannot restore our economic health overnight.  I am thus suggesting a 30 year period to reduce the debt and a four year period to balance the fiscal budget.  There is no reason why Congress cannot take actions to move toward these goals while this amendment is being ratified by the states. 

An exception is also placed in the amendment that would allow deficit spending during a period of national emergency but this would need to pass the House of Representatives, the house that is the closest to the people, by a 2/3 vote.