If lawmakers were serious about a balanced budget, all they would have to do is stop raising the debt ceiling. KISS! Budget balanced.
If lawmakers were serious about lowering the debt, which a balanced budget DOES NOT DO, they could simply vote to lower the debt ceiling. KISS!
Perhaps this should be a separate post, but the prior debates are irrelevant in our current system where all our currency is borrowed from the FED. This debt can never be paid back!
Check this out:
This is a grossly oversimplified description of our current system, but it shows that the system was set up to take the power from the government and put it in the hands of a few unelected decision makers, and it was set up in a way that will make it very difficult to overturn.
By simple arithmetic we have shown that payment of the national debt is not possible under the current system. Any attempt to pay down the debt will cause a contraction of the money supply, which is not a bad thing but it will cause economic corrections and it will look like a bad thing.
The only way to deal with the national debt is to first eliminate the current central banking system.