What’s to say any new debt bill would be adhered to any way?
“Congressional Budget and Impoundment Control Act” of 1974
“Balanced Budget and Emergency Deficit Control Act” of 1985
“Budget Enforcement Act” of 1990
“Balanced Budget Act” of 1997.
“Medicare, Medicaid, and SCHIP Balanced Budget Refinement Act of 1999”
“Restoring Fiscal Discipline Act” of 2007
Yep, just one more bill ought to do it.
You forgot the Gramm-RudmanHollings Act. This act, was passed on December 11, 1985. It set a series of targets for eliminating the federal budget deficit by October 1, 1990. If Congress and the president failed to agree on voluntary spending reductions, the law called for automatic cuts of the necessary percentage from each item in the budget. One-half of the cuts were to come from domestic spending and one-half from defense spending.
Now for the good part
On July 7, 1986, the Supreme Court struck down the automatic-cut provision, on the ground that the act improperly delegated authority to the controller-general, an agent of Congress designated to implement the cuts.
Congress restored the automatic cuts in 1987, avoiding constitutional problems by assigning the power to make the cuts to the president and the director of the Office of Management and Budget.
I hope they did it correct this time.