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Thread: Where is the Bottom to Dow Jones?
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Old 08-23-2020, 06:38 PM
Paper1 Paper1 is offline
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Originally Posted by Stu from NYC View Post
30 or so years ago Congress did pass some sort of a resolution about a balanced budget and for awhile followed it but after a few years ignored it.

Warren Buffet came up with an interesting idea how to balance the budget within a minute or two.

When times were good, if the congress ran a deficit of a certain size (do not remember the percentage) all sitting congressman would be ineligible to run for reelection.

That would be a wonderful amendment.
The problem with balancing the budget is people who are paying for government services don’t want to pay anymore and those receiving said services don’t want them reduced. In order to be elected to political office you need both groups therefore the budget deficit was invented.