Nobel laureates and leading economists oppose constitutional balanced budget amendment

Nobel laureates and leading economists oppose constitutional balanced budget amendment: Dear President Obama, Speaker Ryan, Minority Leader Pelosi, Majority Leader McConnell, and Minority Leader Reid, We, the undersigned economists, urge the rejection of proposals to add an annual balanced budget amendment to the U.S. Constitution because it is very unsound economic policy. Adding additional restrictions, such as an arbitrary annual cap on total federal expenditures, would …