Our Principles and Policies radio show for Saturday November 23, 2013. Barry Sheets and Chuck Michaelis give a report on their recent testimony on Senate Joint Resolution (SJR) 5 which is an application to Congress to call a new constitutional convention purportedly to pass a balanced budget amendment. We detail Barry’s testimony regarding the true size of the federal debt and the true facts regarding what a balanced budget amendment would do to reduce that debt- nothing. We explain the faulty logic behind the balanced budget amendment. We also analyze the overall worldwide economic picture in order to bolster our points on this issue. To add insult to injury we discuss Rep. Paul Ryan’s pledge to do nothing to control spending by promising that no government shutdown will occur in January. And, yes, we tie it all together.
Article links- What’s a negative deposit rate, anyway?