Three out of four Americans favor a constitutional amendment requiring a balanced federal budget, polls show. The question is whether an amendment would create more problems than it fixes.
House Republicans, before accepting an increase in the $14.3 trillion limit on federal debt to avoid a projected Aug. 2 default, insist on a balanced budget amendment. After the House on July 29 approved such a plan by Speaker John Boehner -- including its link to passage of a constitutional amendment -- the Democratic-controlled Senate rejected the measure.
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BLOOMBERG – Balanced Budget Amendment May Not Fix Problems
House Republicans, before accepting an increase in the $14.3 trillion limit on federal debt to avoid a projected Aug. 2 default, insist on a balanced budget amendment. After the House on July 29 approved such a plan by Speaker John Boehner -- including its link to passage of a constitutional amendment -- the Democratic-controlled Senate rejected the measure.