Tuesday, September 06, 2011

A Balanced Budget

What a needed Balanced Budget Amendment should say and do:
1.  It must provide a break-in time frame.  Sufficient time before the first year requiring balance.  After ratification I'd say four years would be about right.
2.  It must provide a Line-Item-Veto for the President's use!
3. Congress shall be held in Session until a yearly balanced budget is presented to the President.
4.  On the fifth year following implementation of balanced budgets and continuing annually thereafter, fourteen percent or a defined number, of total revenues will be taken to expressly pay-down The 'Principal' Debt of the United States.