They want to pass a balanced budget amendment,

This would effectively kill the United States economy almost overnight. Even after the sheer stupidity of such a move was revealed, having it set in stone in our Constitution would mean a drawn out arduous task to reverse it, by which time the US would be an actual third world country with the majority of people totally destitute and a collapsed national currency.

It would be good to see the grand lie of federal finance finally revealed for what it is, a concerted effort between politicians and oligarchs to institute fascism, but not at the expense of such wide spread misery that this would create. The national debt, an aggregate of deficit spending since the 18th century, is our "MONEY SUPPLY", not a mortgage on the population. It represents our net savings from commerce with our government denominated in US dollars and Treasury notes.

If Congress can no longer spend more into the economy than it taxes out (and destroys) there is no reason to provide goods and services to the government. There would be nothing to gain by such commerce if all net dollars generated were clawed back in taxation to satisfy a mostly irrelevant accounting function. No economic growth would be possible and the people would be totally subservient to those who hold existing currency/savings at the time for their mere survival.