The U.S. Constitution has 27 amendments; each was proposed by Congress and ratified by the states.
However, the Constitution sets forth another procedure, never before used, for amending the Constitution. At the request of two thirds of the states, a constitutional convention would be held, at which amendments could be proposed. Any proposals would become part of the Constitution if three fourths of the states ratified them, either at state conventions or in the state legislatures.
Currently, 27 of the needed 34 states have petitioned Congress for a constitutional convention, for the ostensible purpose of writing a balanced-budget amendment (BBA). However, the convention might propose other changes in addition or instead of a BBA—even a total rewrite of the Constitution—if 38 states agreed, the changes would become law.
In November, legislators from 30 states met in Salt Lake City to discuss the matter.
(Score: 3, Insightful) by srobert on Friday December 11 2015, @03:43PM
When I was a kid there was a lot of hand wringing over the national debt.
If it ever gets to a trillion dollars, society will disintegrate into chaos.
No wait, it got to twice that already. Oh, Well then if it ever gets to 5 trillion dollars, society, will disintegrate into chaos.
What? Oh, they tell me its now like 18 trillion. Well if it ever gets to 20 trillion dollars, society will disintegrate into chaos.
Maybe all this chicken little non-sense about deficit spending should be re-examined.
It's ok to have surpluses or balanced budgets during economic expansion. But during economic downturns deficit spending at the federal level is a tool that actually props up the economy without necessarily causing inflation. Take away that tool and the next recession will be a depression.
The only deficit that's actually hurting us now is the trade deficit. Maybe we should put something into the constitution to address that issue.
(Score: 0) by Anonymous Coward on Friday December 11 2015, @05:22PM
Even trade deficit is self-correcting. Eventually our currency will be worth less on the international exchange due to unbalanced trade, which will cause our exports to be more appealing overseas.
(Score: 2) by srobert on Friday December 11 2015, @06:15PM
If by "eventually", you mean in 10 to 20 decades then, I agree.
(Score: 2) by SubiculumHammer on Friday December 11 2015, @05:50PM
The only real limit to deficit spending is its effect on inflation.