Balanced Budget

(Adapted from a post made in December 2005)

Recent years have shown that even a political party that claims to stand for fiscal responsibility cannot be trusted to behave itself when it has a near monopoly of political power in Washington.

Given that we seem to have too few responsible politicians in Washington, I think it’s entirely appropriate that a balanced budget amendment be added to the Constitution to protect the country against the government’s lack of self-discipline.

The language below is based on the old GOP Contract With America. I’ve added a little bit of wiggle room, to acknowledge that there are times when it is necessary and appropriate to deficit spend. Requiring a supermajority of both houses of Congress to approve a deficit and that over a longer period of time a balance be maintained should provide the necessary flexibility without weakening the concept.

Also, I’ve added a provision to turn up the heat on Washington to address the Social Security and Medicare deficits, as well as bringing over a clause found in many state constitutions to avoid legislators from “hiding” pork in unrelated bills to enhance the odds for those projects to be passed.

1. Beginning two years after ratification of this Article, Congress shall approve no budget for the United States Government where total outlays exceed total anticipated receipts, unless this requirement is waived by three-quarters of the whole number of each House of Congress by rollcall vote.

2. Beginning seven years after ratification of this Article, total outlays for any five consecutive fiscal years shall not exceed total receipts for those fiscal years unless funding for any such excess expenditure has been provided for by the most recent budget of the United States Government, or unless approved by three-fifths of the whole number of each House of Congress by rollcall vote.

3. The limit on the debt of the United States held by the public shall not be increased, unless three-fifths of the whole number of each House shall provide by law for such an increase by a rollcall vote.

4. Prior to each fiscal year, the President shall transmit to the Congress a proposed budget for the United States Government in which total outlays do not exceed total receipts. However, for any fiscal year, Congress may waive this requirement when approved by three-fifths of the whole number of each House of Congress.

5. No bill to increase revenue as measured on a per-capita basis shall become law unless approved by a majority of the whole number of each House by rollcall vote.

6. No bill to decrease revenue as measured on a per-capita basis shall become law while there is debt of the United States outstanding unless approved by three-fifths of the whole number of each House of Congress by rollcall vote, or unless the bill contains a provision to eliminate or reduce the revenue decrease in the event of other, unanticipated revenue shortfalls.

7. The Congress shall enforce and implement this Article by appropriate legislation, which may rely on estimates of outlays and receipts. Congress shall establish appropriate criminal punishment for the crime of intentional deception through estimation of outlays and receipts.

8. Beginning two years after ratification of this article, Congress shall approve no outlays by the Federal Old-Age and Survivors Insurance Program, Federal Disability Insurance Program, Medicaid, or their successors unless forecasted receipts in support of those programs are at least equal to forecasted outlays, unless this requirement is waived by three-fifths of the whole number of each House of Congress by rollcall vote.

9. No agency of the United States Government may lease or transfer ownership of property of the United States Government without compensation reflecting the fair market value of that property, unless such a lease or transfer is made to the government of one of the several States or Territories of the United States.

10. Congress shall make no law which embraces more than one subject, that subject to be expressed in the title. All acts which repeal, revive or amend former laws, shall recite in their caption, or otherwise, the title or substance of the law repealed, revived or amended.

11. For purposes of this Article, total receipts shall include all receipts of the United States Government except those derived from borrowing. Total outlays shall include all outlays of the United States Government except for those for repayment of debt principal.