Not my idea, but I think I want to take it and run with it.
I was on my way home from work tonight, listening to talk radio. Then something was brought up that really got my attention. The guest mentioned that he would like to see a Constitutional amendment for a balanced budget. Hmmm, that sounds good. On a smaller level, if a household continues to spend more, than they bring in each month, eventually the payments to service the debt become unsustainable. Well, the same is true on a larger, Government level as well (see Detroit, or even Greece).
The best way to effect change, is to gain popular support. Gaining support for a federal amendment would take a BIG commitment and lots of money. BUT, if the momentum started on a state level (one state adopts it, then two, then three, then ten), the idea of a federal amendment for a balanced budget might be feasible.
I have not even started researching what I need to do, to even have such a thing placed on the ballot in 2016. This idea is in its infancy, on my part.
What say the hive? What are the pros/cons for a large Government body mandating a balanced budget? I suspect hardships for the first 5 to maybe 10 years (mainly for lower income, Government dependent households), then after 10 years, we see major benefits. Of course, the federal government would not be able to keep a balanced budget during declared war times, but in times of peace, it should be able to.