We have had a surplus during the second Clinton administration. Combination of both sides working together.

Unfortunately 9 11 happened and both parties decided lets run deficits all the time.

At some points deficit spending is good to help the economy but when they do it all the time spending gets out of control and inefficient govt spending crowds out small companies (from borrowing) who are the engine of our economy.

After the virus is under control we do need to get govt spending under control and at least run a balanced budget.

The problem is that it is too late for a balanced budget, unless you are looking at gradually reducing spending over 10 or 20 years. If you forced a balanced budget in one year, I think the unemployment rate would increase to over 50 percent, and you would need to reduce Government pensions, Social Security, Medicare, and military spending drastically. And, the stock market would crash. That is because Congress has already spent money for many years into the future. The only way to balance the budget is to default on money that has been obligated. My opinion.

I agree cannot do it at one time must be done gradually. They need to set a target date and make it a requirement that the deficit comes down so much a year until balance is achieved.

Than it would be nice if they continued acting responsibly running a surplus to pay down the debt.

Do I think this will happen. Unfortunately no.

The requirement you are suggesting would require a constitutional amendment because Congress creates a new budget annually, and cannot control any other future spending decisions. But, I would be in favor of an amendment like that.

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.

If we had term limits perhaps we get people elected and they become leaders doing what is best for the country instead of what the think they need to do to get reelected.