Balanced Budget Thomas Jefferson stated, "I place economy among the first and most important virtues, and public debt as the greatest of dangers. To preserve our independence, we must not let our rulers load us with perpetual debt" (Grinsburg 1). This quote illustrates the importance of maintaining a balanced budget; therefore, it is necessary to stand firmly resolved that the government should balance its budget. Three main arguments uphold this premise. They are as follows: 1. It …
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…to the Taxpayers." Congressional Record. Daily ed. 24 Feb, 1998, p. S882-884. Hatch, Orrin G. "Balanced Budget Amendment to the Constitution." Congressional Record. Daily ed. 10 Feb 1997, p. S1152-1187. Huntington, Samuel P. "The Erosion of American National Interests." Foreign Affairs. Sept-Oct 1997, p.28-49. Hutchinson, Kay Bailey. "The Budget." Congressional Record. Daily ed. 5 Feb 1997, p. S985-988. Koretz, Gene. "Economic Trends." Business Week. 19 Jan 1998, p. 1. Krugman, Paul. The Age of Diminished Expectations. The MIT Press, Cambridge, Massachusetts, 1997.