constitutional amendment


The Next Idea

Iceland is one of those countries that you don’t tend to see in the international spotlight.

That changed this week, when the so-called “Panama Papers” were leaked, revealing that a law firm in Panama allegedly set up secret shell companies and offshore accounts to help world power players avoid taxes.

Iceland’s prime minister was the first major casualty of the Panama Papers. He stepped aside after the leaks showed he owned an offshore company with his wife.

But this isn’t the only political upheaval in recent Icelandic history. Following a financial crisis that all but crippled the country, Icelanders decided it was time to rewrite their constitution. And to do so, they turned to crowdsourcing.

Michigan could soon join about 20 states that are formally calling for a national convention to draft a balanced budget amendment to the U.S. Constitution.

Michigan itself has a balanced budget requirement, but not so for the federal government.

This idea of a balanced budget amendment has really taken off in the past few years as the nation’s debt has increased.

Charles Ballad is an economist with Michigan State University, and he joined us today.

Listen to the full interview above.

Matthileo / Flickr

This week in Michigan politics, Jack Lessenberry and Emily Fox discuss the state Senate's failure to expand Medicaid before summer recess, how states will be affected by the Voting Rights Act, and legislation in Lansing to re-consider the state's outlaw on same-sex marriage.