An amendment to the U.S. Constitution should have two qualities: It should make sense as a piece of legislation, and it should be, as much as possible, politically neutral. The balanced-budget amendment, which has re-emerged in Congress as part of the political jockeying over the budget impasse, fails on both counts.
Lawmakers from Chancellor Angela Merkel’s bloc said record-low interest rates will reduce federal debt servicing by 1.52 billion euros ($2.07 billion) this year, helping balance Germany’s budget in 2015.
Republican presidential candidates promised to deliver the leadership that Washington needs to overcome congressional gridlock as they pitched their plans for jobs and taxes and called for the removal of Federal Reserve Chairman Ben Bernanke during a debate tonight at Dartmouth College in Hanover, New Hampshire. Participating in the event, sponsored by Bloomberg News and the Washington Post, were former Massachusetts Governor Mitt Romney; Texas Governor Rick Perry; former pizza magnate Herman Cain; Michele Bachmann, a Minnesota congresswoman; Newt Gingrich, the former House Speaker; Ron Paul, a Texas representative; former Pennsylvania Senator Rick Santorum and former Utah Governor Jon Huntsman. Moderators of the debate included PBS talk show host Charlie Rose, Bloomberg reporter