This is the first in, hopefully, a regular/irregular series of diaries on political subjects that are hot in the political blogosphere and the punditocracy. I will analyze a political issue the best way an outsider can: with Google, Wikipedia, and hear-say. Comments are always encouraged, in fact that's where the title, Correct Me If I'm Wrong, comes in play.
Today's topic: The Balanced Budget Amendment! (boooo!)
This week, the House Republicans will execute their "Cut, Cap, and Balance Plan". They will vote to Cut spending where it doesn't make a dent, Cap spending so they can't raise it where it should, and vote on a Balanced Budget Amendment to the Constitution that will cap the budget at 18 percent of GDP. This plan has no hope of passing, and is no more than a big load of Republican CYA, but let's pretent it had a chance.
Now, correct me if I'm wrong, but wouldn't this plan doom us? Let's take a look.
Okay, let's start the make-believe.
The balanced budget amendment has passed both houses, the President has mistakenly signed it, and the requisite number of states have signed it in time. We now have the 28th Amendment on the books. Just what does that entail?
Because of this, the government can no longer spend more than it takes in. This on its face will forbid us from ever running a budget deficit ever again. That means Congress will be FORCED to balance the budget for the next fiscal year. Tough choices must be made.
Republicans will clamor for programs they don't like (SS, Medicare/Medicaid, SNAP, NASA, Planned Parenthood, and everything else) to be cut. Democrats will want the military budget and oil subsidies to be trimmed and the wars ended immediately.
This is both bad and good.
Programs that the poor and disadvantaged rely on will be cut or modified to the point that they will be nearly unrecognizable. However, the Republicans will have to raise taxes if they still want to fund the wars and the big damn tax cuts for their rich buddies. Since the modern GOP is so diametrically opposed to raising taxes, they will regret the amendment the second it is ratified.
But, of course, this has no chance of passing, so we're safe...for now.