Speaker of the House John Boehner Shows Why A Balanced Budget Amendment Is A Farce

Speaker of the House, John Boehner, shows, unintentionally, why a balanced budget amendment is a farce. Boehner created a plan to cut spending so the deficit ceiling can be raised. Unfortunately for him, the CBO showed his plan DIDN'T do what Boehner hoped it would do. It would only save $850 billion over 10 years.

Whoops.

Make no mistake, $85 billion a year is a lot of money, but, here's the thing. It doesn't even SAVE over the automatic budget increases. More later, but look up "baseline budgeting" and that's a good start on WHY
$85 billion a year is really NOT a cut.

Whoops x 2.

Comments

[MIB]

Boehner's bad math aside, a balanced budget amendment is nonsensical on its face because it would hinder the Federal gov't from reacting to national emergencies, i.e.; natural disasters, economic/financial shocks, etc.