Not much, if anything, would be worse for all of us than a balanced budget amendment. Never mind how you feel about government, taxes and spending. Forget about the politics. Simply, the effing thing can’t work.
Budgets are devices that allow people to plan. In government-speak, however, a balanced budget law mandates that an entity not spend more than it collects. Fine! Anyone who lacks credit knows all about not spending more than what’s in the till. (Can you spell “Got any spare change?”) So what’s wrong with telling government it cannot spend more than it has? Lots, if what you’re doing involves more than simply expressing the notion that you oppose borrowing lots of money you don’t have!