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The Balanced Budget Amendment: Clarifying the Arguments

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  • Buchanan, James M

Abstract

From the perspective of a supporter, this paper responds to the several criticisms that have been raised to the proposed constitutional amendment to require budget balance. Economists have concentrated on the loss of fiscal flexibility. This objection is countered by reference to the political inefficacy of attempted budgetary manipulation. Lawyers have concentrated on problems of enforcement. This objection is countered by reference to observed respect to other constitutional rules. Copyright 1997 by Kluwer Academic Publishers

Suggested Citation

  • Buchanan, James M, 1997. "The Balanced Budget Amendment: Clarifying the Arguments," Public Choice, Springer, vol. 90(1-4), pages 117-138, March.
  • Handle: RePEc:kap:pubcho:v:90:y:1997:i:1-4:p:117-38
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    Cited by:

    1. Gerd Grözinger, 2004. "StaatsSchuld und SühneGeld: zur Beschränkung der öffentlichen Kreditaufnahme in Deutschland und Europa," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 73(3), pages 460-470.
    2. Marco Buti & Sylvester Eijffinger & Daniele Franco, 2003. "Revisiting the Stability and Growth Pact: grand design or internal adjustment?," European Economy - Economic Papers 2008 - 2015 180, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    3. Daniel Mitchell, 2005. "Charles K. Rowley, William F. Shughart II, and Robert D. Tollison (Eds.), The economics of budget deficits. The International Library of Critical Writings in Economics 153, ed. by Mark Blaug. Cheltenh," Public Choice, Springer, vol. 122(3), pages 501-512, March.
    4. Belén Fernández Castro, "undated". "El Equilibrio Presupuestario: Las Restricciones Sobre El Déficit," Working Papers 30-04 Classification-JEL , Instituto de Estudios Fiscales.
    5. Balassone, Fabrizio & Franco, Daniele, 2003. "EMU fiscal rules: a new answer to an old question?," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 34909, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    6. Vanberg, Georg, 2011. "Substance vs. procedure: Constitutional enforcement and constitutional choice," Journal of Economic Behavior & Organization, Elsevier, vol. 80(2), pages 309-318.
    7. Flamino Viola & Margarida Saraiva, 2015. "Flat Tax, the solution?," CEFAGE-UE Working Papers 2015_07, University of Evora, CEFAGE-UE (Portugal).
    8. repec:ejw:journl:v:12:y:2015:i:2:p:242-259 is not listed on IDEAS

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