
The "Regular Order" Won't Restrain Spending
Cato Podcast
00:00
A Fiscal Responsibility Constitutional Amendment?
In a balanced budget, forty nine of 50 states have a balance budget amendment to their constitution. What really matters are three things when you're talking about fiscal policy at the federal level: debt to g d p, interest as a percentage the budget and mandatory spending as a percentage of the overall budget. Some level of debt is fine, but too much debt serves to slow economic growth,. reduce opportunities and can create inflectionary pressures as well. And so that's why i'm focused on debt to gd p.
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