We need a law requiring a balanced budget.
Our leaders get elected giving people what they want. Voters always want more and increasingly view government as the way to get it.
Our enormous debt is the greatest threat to our society, and all the regulation and protection in the world doesn't alter the fact that the financial system is under great stress. As we've seen before and will see again, one hiccup and the house of cards collapses.
You can blame Wall Street if you like, but it's our insatiable appetite for debt that causes the financial industry to come up with more exotic and risky ways to finance our world.
A balanced budget requirement would force our leaders to make choices and lead. And our world would be more stable.
- Steve Shelby, Schererville