What is a balanced budget amendment?
Q: What is a balanced budget amendment?
A: A balanced budget amendment is a rule in the United States Constitution that requires the government to spend no more than what it earns.
Q: Why is a balanced budget amendment important?
A: A balanced budget amendment is important to ensure that the government doesn't have to borrow money, reducing the likelihood of debt.
Q: Does a balanced budget amendment allow for borrowing during emergencies?
A: Yes, some proposals of the balanced budget amendment allows the government to borrow money during a time of emergency such as war.
Q: Can the government borrow money anytime under a balanced budget amendment?
A: No, a balanced budget amendment only allows the government to borrow money during times of emergency or if most people in Congress agree it is necessary.
Q: Who proposes and implements a balanced budget amendment?
A: A balanced budget amendment can be proposed by Congress and implemented through a constitutional amendment.
Q: Does government borrowing affect people in the long run?
A: Yes, government borrowing can lead to a national debt, which can negatively affect the country's economy and future generations.
Q: What measures can the government take to avoid borrowing?
A: The government can avoid borrowing by minimizing unnecessary spending, increasing revenue through taxes, and promoting economic growth.
