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One indicator of smart fiscal practices is maintaining balance between spending and revenues. Occasionally deficits may be necessary.

Tax and spending decisions should be the purview of the legislative branch.

A balanced budget amendment to the U.S. Constitution should not be adopted.

Policymakers should enact effective and balanced rules for fiscal discipline.

Legislators should not adopt supermajority voting requirements for budgetary or tax matters.

Governments should not limit their ability to address future economic and political changes and the need for investments.

Efforts to balance the budget or address shortfalls should remain the purview of the legislative branch.

Policymakers should provide for transparency and honesty in the budget process.

Under the U.S. Constitution, people are entitled to compensation when a government takes their property. This is known as a taking.

Governments should avoid enacting laws that are inconsistent with U.S. Supreme Court precedent on takings.