Just a question for this discussion.
Theoretically wouldn't a balanced budget with no fiscal deficit, leave the debt ceiling where it is? Or do we have to factor in interest too?
The point is Rand should be adamant on the yearly fiscal budget, there is nothing we can do about trillions of debt. But the annual deficit is a legitimate target, that is where the line in the sand should be drawn.
A balanced budget would prevent any more debt from piling up. If we had a balanced budget amendment we would likely have a surplus at times as well, and we could use some of the surplus money to pay off the national debt.