Fiscal Democracy in America: How a Balanced Budget Amendment Can Restore Sound Governance

Fiscal Democracy in America: How a Balanced Budget Amendment Can Restore Sound Governance

Author: Cato Institute December 10, 2025 Duration: 1:03:30

As America’s debt climbs and the danger of a fiscal crisis grows, is it time to add a constitutional guardrail? In Fiscal Democracy in America, Kurt Couchman proposes a principles-based balanced budget amendment (BBA) to address the persistent deficits in Washington in a flexible and politically feasible manner. Marc Goldwein draws on his experience in fiscal commissions and provides a challenge to the BBA as a silver-bullet solution to America’s fiscal crisis.


How could a principles-based BBA work, and how would it handle entitlement programs, recessions, and crises? Why did previous attempts at a BBA fail, and what makes a principles-based BBA different? Is a BBA just a distraction from adopting specific policy reforms? And if an amendment were adopted, do other reforms need to occur to complement its implementation? Join us for a discussion with Kurt Couchman and Marc Goldwein, moderated by Romina Boccia.


Hosted on Acast. See acast.com/privacy for more information.


Step inside the Cato Institute's renowned Washington, D.C. events without leaving your desk. The Cato Event Podcast brings the lecture hall and briefing room directly to you, featuring unfiltered audio from live policy forums, author discussions, and Capitol Hill briefings. Each episode captures the substance of these gatherings, where scholars, policymakers, and leading thinkers engage in detailed conversations about liberty, governance, and current affairs. You'll hear substantive debates and thoughtful commentary that cut through the noise of daily headlines, offering deeper analysis on the issues shaping legislation and public discourse. This isn't a produced studio show; it's a front-row seat to the kind of candid exchanges that happen when experts gather to challenge conventional wisdom. The Cato Institute, through this podcast, provides a direct conduit to these discussions, emphasizing a perspective rooted in individual freedom, limited government, and free markets. Tune in for a raw, intellectual experience that goes beyond soundbites, perfect for anyone who wants to understand the foundational ideas behind today's political news.
Author: Language: English Episodes: 100

Cato Event Podcast
Podcast Episodes
Back to School: A Conversation on the State of Education [not-audio_url] [/not-audio_url]

Duration: 1:00:32
Join Cato education scholars Neal McCluskey, Colleen Hroncich, and Andrew Gillen for an online panel discussion on the current state of American education as students return to classrooms nationwide. Moderated by USA Tod…
Competencies in Civil Discourse: Episode 8 [not-audio_url] [/not-audio_url]

Duration: 1:00:04
Our guest is Ildi Tillmann, a Hungary-born, New York–based photographer, author, and educator whose work spans art, documentary, narrative journalism, and commissioned photography, placing human stories in a global conte…
Ranked Choice, Election Reform, and the New York City Vote [not-audio_url] [/not-audio_url]

Duration: 1:16:35
The dramatic outcome of the New York City mayoral primary, in which Zohran Mamdani outpaced former governor Andrew Cuomo and then clinched the win with second-choice votes from other candidates, has drawn attention to th…
Misinformation: What Is It and What Should We Do About It? [not-audio_url] [/not-audio_url]

Duration: 59:43
Misinformation is a widespread and serious concern within our society today. Nearly every issue we face involves claims of misinformation, as well as disinformation and otherwise misleading content. But despite being fre…
The Effects of Tariffs [not-audio_url] [/not-audio_url]

Duration: 44:37
Join us at the Cato Institute for a conversation on the complex and uncertain US tariff situation and the policies’ effects, especially for the American wine and spirits industries.In Kentucky, bourbon has long been a so…
Libertarianism vs. Conservatism Intern Debate [not-audio_url] [/not-audio_url]

Duration: 1:29:22
Libertarians and conservatives often share values like individual liberty and limited government, but their approaches to key policy issues can differ sharply. From trade policy to immigration, these differences reveal d…
Presidential Tariff Authorities and the Need for Reform [not-audio_url] [/not-audio_url]

Duration: 1:02:33
Article I, Section 8 of the US Constitution grants Congress the sole power to “lay and collect Taxes, Duties, Imposts and Excises” and to regulate commerce with foreign countries. Today, however, Congress has broadly del…