eddie again Wrote:
Feb 15, 2013 10:26 AM
we should not ignore, hide or minimize the consequences of passing a balanced budget. the short term effect of limiting federal expenditures to federal revenues will necessarily reduce economic activity in the usa. in the short term, it will raise unemployment. in the short term, it will intensify the current great recession. raising taxes to maintain federal spending levels will lengthen any recovery periord that begins by balancing a budget.