ELI5: Explain Like I'm 5

Balanced budget amendment

Okay, so let's imagine that you have some toys that you want to play with. But your mom and dad have some rules for you to follow - they want you to make sure you have enough money to buy food and other important things before you spend all your money on toys.

In a similar way, the government also has rules for spending money. They have to make sure they have enough money to pay for things like the military, schools, roads, and hospitals, before they spend all their money on other things.

A balanced budget amendment is a big rule that some people want to make for the government. This rule would say that the government can't spend more money than it has. It's like saying that you can't buy more toys than you have money for - you have to make sure you save some money for other important things!

This rule would be like a big promise that the government makes to people, saying that they will be careful with their money and not spend too much. Some people think this is a really good idea, because it can help keep the government from going into too much debt (which is like owing too much money to other people).

But other people think it might not be such a good idea, because sometimes the government needs to spend more money than it has in order to deal with emergencies or make big changes. It's kind of like how sometimes you might need to buy a new toy even if you don't have a lot of money, because it's really important to you.

So, a balanced budget amendment is like a big rule that some people want to make for the government, to make sure they don't spend too much money. But it's not an easy rule to follow, and some people aren't sure if it's the best way to deal with money problems.