having balanced budget requirements and it not destroy them? >> states are required to balance their operating budgets, not their total budgets. states borrow for roads, bridges, schools, many things. think of all of the bonds at the state level. >> sure. >> plus the fact that states have to balance their operating budgets, even in recessions, makes it even more important for the federal government not to have to do that, otherwise you get these effects of doubling unemployment. there's one more thing. virtually every current proposal for a balanced budget requirement in the constitution includes as part of the proposal a very severe limit in the constitution for all time when the total amount of tax revenue the federal government can raise. >> yes. >> a level lower than what we raised today. what it does is a constitutional balanced budget requirement of that nature effectively constitution allizes a requirement to cut social security, medicare and medicaid because otherwise you couldn't get spending long enough to fit