The supply-side Balanced Budget Amendment

With 27 states down and only eight to go, the campaign for an Article V Balanced Budget Amendment (BBA) is entering the home stretch.  Next year, or the year after, the first Amendment Convention in our history may be held.  The delegates to the Convention will be the sole judges of what can or cannot be included within a BBA proposal. Budgets can be balanced by cutting spending or increasing revenue.  So the Convention will be free to include supply-side measures, which have not traditionally been thought of as part of a BBA. The Competitive Enterprise Institute recently estimated the cost of federal regulation at $1.8 trillion a year.  Constitutional regulatory reform would cause a huge expansion of economic activity and tax revenue, and thus fits within the call for a balanced budget.  Any new regulation would have to be approved by Congress, and current regs could be repealed by a simple majority in each House of Congress, not subject to...(Read Full Post)