Friday, December 29, 2017

A Balanced Budget Amendment Might be a Little Much

 The national debt should be one of our greatest concerns, one of our most pressing matters. It is a flaw in the way we conduct our government.
   But, then, should we pass an amendment requiring a balanced budget and outlawing debt?
   I think of personal finances, and family finances, and of how it can be necessary - even wise -- to go in debt, at times. You might need to to get an education or you might need to buy a house. If you have a personal restriction against going into debt, it will restrict your well-being and prosperity.
  Even so, as there are times when it is wise for families to go into debt, there are times when it is wise for nations to go into debt. If there is a hard, fast rule against the debt, you might restrict the growth, well-being and prosperity of the nation.
  But, notice that in responsible personal debt, or family debt, there is always a plan to get out of it. If you take out a college loan, it will be with the idea that you will land a job paying enough that you will pay off that student loan. If you buy a house, the mortgage plan will require you to make payments each month and eventually pay the loan off.
   So it should be with our national debt. We should not go into debt without a plan to get out of debt. We should be paying down our debt, instead of wildly spending into the future.
   Go into debt, if it is required. But, get out of debt, as soon as possible. And, have a plan to get out of debt. If we are to have a Constitutional amendment, maybe it would be to say simply that congress shall meet to address any debt that shall arise, and shall draw up a plan for getting out of that debt.


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