Chapter 12 - Assignment 2: A Balanced-Budget Amendment?
Read "If Everyone Agrees that We Should Balance the Budget by 2002, What's the Problem with a Constitutional Amendment?" by Robert Greenstein.
- What happens to tax revenue and transfer payments during a recession under existing law?
- Is the author correct in arguing that the requirement of an annually balanced budget would tend to destabilize the economy? Explain.
- If an annually balanced budget is required, would automatic stabilizers still exist?
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