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Politicians and Spending Caps

Budget experts worried about the growth of federal spending and deficits have proposed various statutory and constitutional restraints to get the budget under control. I favor a simple cap on the percentage growth in annual total outlays. Many state governments have spending, deficit, and debt restraints on the books, both statutory and constitutional. The restraints do help to tame state fiscal policy, but there is lots of cheating by the politicians.
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Democrats Set to Break Spending Cap Agreement

US Politics / Conservative : Power Line

(John Hinderaker) Last summer, as part of the agreement that resulted in raising the federal government’s debt limit, Congress passed the Budget Control Act, which set spending caps for future years. These spending caps represented ...

Hoeven, Conrad Vote To Kill Budget Control Act Spending Caps

US Politics / Conservative : Say Anything Blog

Yesterday I wrote about Democrats attempting to eliminate the Budget Control Act’s spending caps – what Republicans won in exchange for agreeing to raise the debt ceiling last year. A spending bill they proposed, bailing out the US ...

Republican Debt/Deficit Plan Passes The House Of Representatives

Business & Finance : Business Insider: Money Game

The House of Representatives voted 234-190 to pass the "Cut, Cap, and Balance" deficit reduction plan late Tuesday. The bill calls for a balanced budget amendment to the Constitution, and would peg federal spending to a certain perc...

Don’t Get Too Carried Away Over Cut, Cap, And Balance

US Politics / Conservative : Right Wing News

What is cut, cap, and balance? 1. Cut – We must make discretionary and mandatory spending reductions that would cut the deficit in half next year. 2. Cap – We need statutory, enforceable caps to align federal spending with average r...

Obama proposes to exempt some IRS spending on enforcement from budget cap

Business & Finance : Angry Bear

by Linda Beale Obama proposes to exempt some IRS spending on enforcement from budget cap The 2011 debt ceiling compromise, known as the Budget Control Act, establishes automatic cuts in spending for various categories if no further ...

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