Ryan Streeter
Follow Ryan on Twitter
Today at NRO, Sen. Bob Corker advertises his CAP Act, which we have supported here:
The only real way to place America back on a path to solvency is by imposing what amounts to a fiscal straitjacket. To that end, colleagues from both sides of the aisle and both houses of Congress have joined me in offering the CAP Act, legislation that, for the very first time, would establish an across-the-board, binding cap on all federal spending...The CAP Act would result in $7.6 trillion less spending over ten years, fundamentally change the way Washington does business, and finally put America on a trajectory toward fiscal sanity.
Specifically, the bill would put in place a ten-year glide path to bring all federal spending down to a 40-year historical average, 20.6 percent of GDP. It would also put all federal spending on budget and make it subject to the cap, finally allowing for a complete, accurate, and honest assessment of federal outlays.
Continue reading here.
Comments