Question: 3.05 Some support the idea of adding an amendment to the U.S. Constitution that would require the government to have a balanced budget (meaning the

3.05

Some support the idea of adding an amendment to the U.S. Constitution that would require the government to have a balanced budget (meaning the government could not spend more than its revenue in any given year). In a short essay of at least two paragraphs, first explain what you think the benefits of requiring a balanced budget would be. If you don't see any benefit to such a requirement, then explain that instead and fully explain your reasons to support your opinion. In the second paragraph, analyze the effects the national debt has on our economy. Your reasons must be logical and detailed and must support your opinion.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Because of the problems of balancing the budget of the United States in recent times, there have been calls from both parties (Democrats and Republicans) for a balanced-budget amendment to the US...

After completing the Sandlands Vineyards case study, prepare a slide show that answers the following questions: Is the premium wine market an attractive market, or a good place to invest? How is the...

Issue: Is the 8th Amendment Protections Violated if Prisoners are Deprived of Basic Sustenance? do: background, yes argument, no argument, opinion is the Eighth Amendment Protection Violated If...

Summarize the following chapter in your words: (Basic elements of individual behavior in organizations) What is individual behavior in organization? The people who populate today's business world are...

Read this post: Freedom of speech is a very important provision of the US Constitution.Supreme Court Justice William J. Brennan once said, "If there is a bedrock principle underlying the First...

I need help understand the argument of this paper. I'm not seeing the connection between globalization and us Prison growth as the total would suggest, and this could be because I don't entirely...

Taxes can be used to discourage negative externalities. True False In a regressive tax system, A. the effective tax rate is higher in high-income groups. B. the effective tax rate is lower in...

4 Files 3:17 PM Fri May 13 Insert Draw Layout Review View Unit SMacroeconomic Policy Name: HR: POLICY BASICS Use the space below to take notes during class. The Federal Reserve: Monetary Policy:...

4 Files 3:18 PM Fri May '13 Insert Draw Layout Review View Unit SMacroeconomic Policy Name: HR: FISCAL POLICY Use the space below to take notes during class. Disposable Income: How does a change in...

A company reports the following: Net sales ..........$3,500,000 Average total assets .... 2,500,000 Determine the ratio of net sales to assets.

The Director of Capital Assets Corp. is considering the acquisition of a new high speed photocopy machine. The photocopy machine is priced at RM85,000 and would require RM2,000 in transportation...

Cullumber Corp. had $ 7 3 0 , 0 0 0 net income in 2 0 2 5 . On January 1 , 2 0 2 5 , there were 2 0 0 , 0 0 0 shares of common stock outstanding. On April 1 , 2 3 , 4 0 0 shares were issued and on...

The balance sheet of the Chesapeake Company contained the following accounts and balances: Cash $780 Notes Payable $480 Equity $630 Land ? Based on the above information only, the amount or balance...

Emma's On-the-Go, a large convenience store that makes a good deal of money from magazine sales, has three possible locations in the store for its magazine rack: in the front of the store (to attract...

The Ranger group of industries has a factory that produces three types of action figures, types I, 2, and 3, on a make-to-order basis. The factory operates five days a week for 9 hours each day. The...

Your firm spends $500,000 per year (end of the year payment) in regular maintenance of its equipment. Due to the COVID-19 economic downturn, the firm considers forgoing these maintenance expenses for...

What is the purpose of branching in source control?

1. Build trust and share information with others.

11. What types of information collected are most frequently used in decision-making?

10. How much time does it take between when we collect information until it is used in decision-making?