Actually, this topic doesn't really belong in Novices and Newcomers. There have been a few discussions similar to this that took all the material Tolkien ever wrote about the two and then some. Even then I don't think the issue was resolved. There just isn't enough information out there to prove which is the strongest one way or another. I have always had a gut feeling that a Balrog could live a longer life than a Dragon though. Dragons are seem pretty arrogant and Balrogs know when to run and hide.
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