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Budget law
continues
The Supreme Court recently ruled that a portion of the GrammRudman law was unconstitutional.
Senator Paul Trible explained that it is important to understand that the Supreme Court decision does not invalidate the Gramm-Rudman process. Rather, the decision only eliminates one provision—the automatic enforcement provision— that would have taken effect if the Congress failed to act responsibly.
Gramm-Rudman was enacted with bipartisan support because the American people recognize that $2 billion deficits threaten our future as a nation and it is time to rein in spending, he said. “I belive the Congress will continue to honor that requirement.”
Last March, the Congress voted to reduce overall spending by $12 billion in order to meet the mandate of Gramm-Rudman. In June, the Congress approved a budget for the
next year that achieved savings of $40 billion, again meeting the mandate of Gramm-Rudman. In August, the Congressional Budget Office and the Office of Management and Budget will take a survey of the economy
and report whether spending is on target or not. “If it is not, I hope, and believe that the Congress will take appropriate action,” Sen. Trible said.
“The important thing is for the American people to continue to stand up and speak out and demand that the Congress make those tough and politically unpopular decisions that are essential in reining in government and to providing the kind of healthy, vibrant economy that we all want,” he concluded.
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