Ever heard of it? I hadn't, until I read this post today. Essentially, it calls for a reform of the budget process, including the following key points:
- Converts the current budget resolution from an advisory opinion to a legally binding budget, signed by the President. This budget will force the President and Congress to commit to the same budget before spending any money that year.
- Provides government shutdown protection whereby the government can operate at the prior year's funding levels in the event that negotiations are deadlocked (usually over higher spending) at the beginning of a new fiscal year.
- Places enforceable caps on the growth of entitlement and discretionary spending and closes loopholes that made such limits easy to exceed in the past.
- Sunsets most entitlement programs and all discretionary programs over a period of time to allow for a thorough cost-benefit analysis as to whether they still merit federal funding.