Spending Ceiling

December 18, 2011

Here’s an idea for structural reform (though not structural in the same sense as, say, repealing the Seventeenth Amendment), prompted by the discussion generated by a past post: a spending ceiling.

The idea is simple:  Congress would enact a limit on the annual federal budget, similar to the total limit on national debt (the “debt ceiling”).  Any time Congress wants to spend more money than it did the previous year (or rather, more than the existing statutory limit), it has to pass a law (duly agreed by both houses and signed by the president) raising the spending limit.   Read the rest of this entry »