Why a balanced-budget amendment is too risky

Norman J. Ornstein: “The Republican proposal would cap spending each year at 18 percent of gross domestic product. Because the formula is based on a previous year’s economy, it would mean, according to Republican economist Don Marron, a cap of more like 16.7 percent of GDP. This in turn means that the House-passed budget proposed by Rep. Paul Ryan, which calls for draconian cuts in Social Security, Medicare, Medicaid and discretionary domestic programs, would not be nearly draconian enough.”