Reality Check: What about the balanced budget amendment?
Reality Check, responds to a viewer's question about the debt ceiling debate.
Glenn Sterling in Villa Hills writes,
"All this debate, bickering and proselytizing over the budget and the debt ceiling, yet the simple and logical solution to preventing this from happening again seems to be getting lost in the fog...a balanced budget amendment. how could anyone with even a modicum of financial common sense be opposed to this?"
For those of you who might not know, the House last week passed the only measure that has been passed by Congress so far in this debate and that measure is known as Cut, Cap and Balance.
Cut, Cap and Balance would allow the feds to have their 2.7 trillion dollar increase while, making:
Cuts - substantial cuts in spending that will reduce the deficit next year and each year after that for at least 10 years. For the year 2012 it would have cut spending by 111 billion in future spending
Cap - enforceable spending caps would tie how much the feds can spend to how much tax revenue is being taken in. the bill would have capped future spending at 18 percent of GDP, or our nations gross domestic product.
Balance - congressional passage of a balanced budget amendment to the U.S. Constitution -- but only if it includes both a spending limitation and a super-majority or a 2/3rds vote for raising taxes, in addition to balancing revenues and expenses.
After making it through the House, that measure died in the Senate when it was tabled.
Today there is talk that Republicans will bring back and push for a vote again on a balanced budget amendment.
If it were to happen would take at least 7 years to work its way through the states because each state must vote to approve the change to the Constitution. One of the major issues here is that there is strong opposition to a balanced budget amendment from some lawmakers including the President himself who said last week.
"We don't need a Constitutional amendment to tell us to do our jobs. The Constitution already tell us to do our jobs and that the government is living within our means and making responsible choices."
The reality is that the government is not living within its means and the American people know it. Maybe that is why a new CNN poll shows that 2 out of every 3 Americans supports Cut Cap and Balance.
Despite the fact that Sen. Harry Reid called the measure the worst piece of legislation in history, 63 percent of Democrats support Cut Cap and Balance and 65 percent of Independents do as well.
Here's what you need to know.
The one thing most Americans can probably agree upon is that they don't trust politicians.