Constitutional amendment for a balanced budget? (1 Viewer)

[BLAZER PROPHET]

Exactly what is the govt. supposed to do with any surpluses?

We save it for when we're running a deficit budget in poor economic times.

 

[blazerboy30]

We save it for when we're running a deficit budget in poor economic times.

What does "save it" mean in the context of the government?

 

[BLAZER PROPHET]

What does "save it" mean in the context of the government?

In the US Treasury.

 

[Draco]

What does "save it" mean in the context of the government?

Any action that doesn't "spend it".

 

[Denny Crane]

Any action that doesn't "spend it".

That doesn't entirely make sense.

Consider the govt. burns old worn out currency all the time and replaces it with nice newly printed money. If the govt. sat on $200B a year in surpluses, after 10 years, it'd be like taking in $2T in old currency and not printing any new money. That would drive prices on most everything through the floor since there'd be fewer dollars to buy everything that's sold. Everyone would have to take pay cuts. The only things that wouldn't drop in price would be mortgage payments, the cost of higher education, and medical bills. Yikes.

 

[blazerboy30]

Any action that doesn't "spend it".

Yes... excellent plan. :MARIS61:

That's a lot of piggy banks that would need to be filled.