A balanced-budget requirement implies that the full-employment deficit/surplus must be zero. The deficit/surplus line must pass through zero when real GDP equals potential output. Now suppose that, for some reason, the economy goes into recession. “Recession with a Balanced-Budget Amendment”, this means that output goes from potential output to some lower level. We know that this leads to a deficit, which is shown as a shift from point A to point B. Under a balanced-budget rule, the government is not allowed to let this situation persist. Instead the government must respond by increasing taxes or cutting spending, moving the economy from point B to point C. Similarly, if the economy went into a boom, this would tend to lead to a surplus. The government would be forced to cut taxes or increase spending to bring the budget back into balance. A balanced-budget amendment would force the government to conduct procyclical fiscal policy.  Recession with a Balanced-Budget Amendment If the economy were to go into recession, a balanced-budget requirement would force the government to increase taxes or cut spending to bring the budget back into balance.
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