Larry Sabatos Balance Budget Proposal: Pros and Cons

Introduction

As America approaches its 250th birthday, it will undoubtedly become a major battleground in the culture wars. Consequently, it pertains to how the American constitutional structure is split or maybe shattered (Jenkinson, 2022). The purpose of a federal government is to serve all of a nations citizens and to operate diligently to overcome the issues that great countries must confront. Today, the topic of the constitutional convention is contentious. This is because United States Congress is almost a crippled, corrosively politicized, and mostly unfair representation of the American people. As such, there is a need for the constitutional convention to be revitalized (Jenkinson, 2022). Regarding political scientist Larry Sabato, the seventh proposal of the Congress on adding a balanced budget amendment to encourage fiscal fairness to future generations will be more feasible to limit unfairness in income distribution. Nevertheless, the framework has its pros and cons, they include.

Pros

In the end, excessive government debt would be unsustainable
- High borrowing levels might translate into increased interest payments, more taxes, and reduced government expenditure on operations throughout time.
The hypothetical debt spiral is removed from consideration
- The present path of government debt, according to proponents of a balanced budget amendment, would surely result in a financial crisis

Cons

Difficult to implement

Due to inequality in the incomes of American people, there are challenges to enforcing a balance system. Therefore, to ensure every individual in the United States has an average income, the federal government would have to collect an extra $2,4 trillion from the richest 40% of households in a single year (Hodge, 2020). This milestone is difficult to achieve since Americans are diverse income distribution.

Possible increase in the debt load

As a consequence of economic development, imbalances tend to shrink or expand. A federal balanced budget amendment that exacerbated downturns might be so detrimental to long-term economic development that it paradoxically increases debt.

Conclusion

People are apprehensive of their liberties due to the evolving and modernizing American culture. The American people are capable of reinvention and are up to the challenge of rejuvenating the Constitution. As a result, there is an urgent need to modify the present Constitution substantially. People may always refuse to approve the new Constitution if it does not reflect the wishes of the American citizens and if the budget is unbalanced.