Instant Balanced Budget Amendment: Maintain the Present Borrowing Limit

There is a very simple way to balance the budget without passing a Balanced Budget Amendment: refuse to raise the federal borrowing limit. Treasury would be forced to do what any business or family would do: live within its means and stop mortgaging the American dream to the Chinese. Instant Balanced Budget Amendment.  The beauty of the Constitution of the United States are the checks and balances provided to prevent any one government body from wielding too much power. Congress alone is vested with the power to borrow money. If Congress decides to stop borrowing there is nothing President Obama can do but instruct the Treasury to immediately curb spending. The world will not come to an end when the US government reaches its borrowing limit. The Treasury Department will be forced to prioritize spending based on continued government income. The Treasury will be forced to balance our budget, not in five years or ten years (which will never happen) but immediately through...(Read Full Post)