Richard Rahn, The Washington Times: ‘Time for a Constitutional Fix’
August 16, 2011
Richard Rahn offers some good ideas about the current debate about a Constitutional Amendment that requires a balanced budget. He observes that in addition to a balanced budget we should consider the following three points:
- All government insurance (incorrectly called “entitlements”) and trust programs must be privatized or fully funded from specifically identified and allocated taxes and fees that cannot be diverted to pay for other government programs.
- Every government expenditure, no matter how small, must be funded from an identifiable stream of revenue – taxes, fees, or asset sales.
- No new or expanded government program or activity may be enacted into law without a specific source of funding attached to it.
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