Fiscal Policy

Debt Limit Debate

The U.S. Capitol building is pictured as lawmakers return from the Christmas recess in Washington (REUTERS/Mary Calvert).

Testimony

Constitutional Solutions to Our Escalating National Debt: Examining Balanced Budget Amendments

July 24, 2014, Henry J. Aaron

Despite the relatively high levels of current government debt and the budget challenges that the nation faces in the future, instituting a federal balanced budget amendment is unwise because it could negatively impact the economy and threaten the nation’s financial stability says Henry Aaron.

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