A constitutional convention would be a debacle that would destroy our nation. Individual amendments are a good idea but this list isn't a particularly good one.
1. Require the federal government to have a balanced budget and stop incurring debt. There have been times in our history when incurring debt has been the only thing that allowed us to defend ourselves.
2. Repay the national debt over a 50-year period. Current debt? A constitutional amendment to pay off current debt? Seems a bit silly to incorporate that in the founding document.
3. Force Congress to be more transparent regarding the legislative process. Not really a bad idea exactly but without detail isn't anything but a very nebulous concept
4. Enable the president to have "line-item veto" authority. I completely disagree with adding this additional power to the executive branch.
5. Limit the number of terms a person can serve in Congress. Good idea
6. Mandate Congress control illegal immigration. Via constitutional amendment? What would this amendment be called? The "do your job" amendment?
7. Provide a legal framework to prevent becoming a bilingual nation. Or in other words make English the official language? Why get PC when discussing this? 8. Prevent foreign laws and courts from having authority over the American people. The current constitution does this already
9. Restrain the growth of the federal government and prevent "socialism." By amendment? Uhmm the entire constitution already does this. Putting an amendment on the constitution to this effect would be akin to proposing a "We really mean it this time" amendment.
10. Allow for the presence of "God" in the public domain. The constitution already allows for god in the public domain.
Milton Friedman proposed a Constituitional Amendment that would only allow the Government to incur debt during a declared war such as World War II.
Many state governments have no legal authority to incur debt, e. g., Pennsylvannia, New York, Massachusetts. Pennsylvannia actually repudiated its debt once and people and institutions still hold worthless Pennsylvannia bonds. States get around this restriction by setting up “independent authorities” who issue revenue bonds (Pennsylvannia Turnpike, Massachusetts Turnpike, Port of New York.) New York has egregiously abused this work around by having, for instance, the state dormitory authority, set up to build the State University system, take over the prisons, issues bonds backed by the income derived from leasing the prisons back to the State. Oy! Makes Bernie Madoff look ethical.