The question is how much faith should we put in elected politicians to deliver good fiscal outcomes? In my view stronger fiscal checks will strengthen, rather than weaken democracy. No economist would advocate balanced budgets always, but a balanced budget “over the cycle”, with verification from an independent body over achieving that aim would seem to be a good direction to take. The charter of budget honesty act goes some way towards this, but does not ensure proper independent verification.
A Public Choice Truth
7 hours ago