S&P Head John Chambers Says Balanced Amendment Would Hurt U.S. Credit Rating
Standard and Poor’s managing director John Chambers says a balanced budget amendment would give us less flexibility in a crisis.
“In general, we think that fiscal rules like these just diminish the flexibility of the government to respond. Also, when Congress has a long track record of trying to bind itself with various rules…But when push comes to shove, they don’t bind very much. So even if you had a Balanced Budget Amendment, you’d have some questions about it’s credibility, and it would just reduce your flexibility in a crisis.”Click here for reuse options!
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