2012-06-17bbc.co.uk

the biggest challenge facing mature democracies is how to restore the social contract between the generations... If young Americans knew what was good for them, they would all be in the Tea Party.

...

The simplistic answer - which has already been adopted in a number of American states as well as in Germany - is some kind of balanced budget amendment, which would reduce the discretion of lawmakers to engage in deficit spending, much as the practice of giving central banks independence reduced lawmakers' discretion over monetary policy.

Many good points but we're a bit flummoxed as to why forgiveness of odious debt doesn't figure into this.



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