Is a Balanced-Budget Amendment Desirable?

Actually, it’s just Republican eyewash, since the federal government does massive “off-budget spending.” That is, the official deficit is always far smaller than the increase in the national debt. I do not believe there is any political solution to what the evil entity in DC has foisted on us, nor am I fan of process reform in general, but here is one idea that, if it could ever be enacted by some fairy godmother, would make sense: freeze the national debt. But even that wouldn’t cure our ills. We need to follow Ron Paul’s advice and end the wars and the empire. That is step one to fiscal and moral sanity.

cross-posted from the LewRockwell.com blog