It always sounds like a great idea to have to balance the budget because we all do that in our homes. However, the nature of government is different! Government needs to spend more in times of economic downturn and a balanced budget requirement would tie the hands when help is needed the most. It is almost certain that had it not been for government spending increases during the most recent recession the impact would have been prolonged even further and perhaps turned into a recession. It’s basic economics. Also if the United States ever defaults on money owed, then the whole world would suffer because of how much everyone relies on the mighty US dollar!