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Topic: Gramm Rudman Hollings Balanced Budget Act

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	[No title]
		In September 1987, faced with a projected budget deficit of $183 billion for FY 1988 (far exceeding the $108 billion target), Congress revised the law (P.L. 100-119) and adopted higher deficit levels supposedly bringing a balanced budget in FY 1993.
		Budget rules governing rescissions stipulate that if the Appropriations Committee does not act on rescissions submitted by the president within 25 days of continuous session, one-fifth of the members of the House can call for discharge of the bill from committee.
		It requires that the president submit, and Congress pass, a balanced budget each fiscal year unless three-fifths of the whole House and three-fifths of the whole Senate vote to incur a deficit.
	www.house.gov /house/Contract/fiscrespd.txt (1668 words)

	[No title]
		III) 906(a)(2), provides generally that budget authority required to be sequestered under the act "(is) permanently cancelled." Section 256(a)(2) also provides, however, that amounts sequestered in trust funds "shall remain in such funds and be available in accordance with and to the extent permitted by law." As the court of appeals noted (Pet.
		Finally, the court of appeals found inapplicable all of the provisions of the Revenue Sharing Act or COBRA relied on by petitioners and the district court, because those provisions merely mandated the release of monies that in fact remained appropriated for the Trust Fund (Pet.
		Two of the cases /7/ addressed the asserted repeal of a substantive measure by way of an appropriations act, an especially disfavored statutory construction, whereas this case involves the reduction of a previous appropriation by a later appropriations measure.
	www.usdoj.gov /osg/briefs/1988/sg880314.txt (1944 words)

	The Economic and Budget Outlook, Fiscal Years 1998-2007
		The Balanced Budget and Emergency Deficit Control Act of 1985 (popularly known as Gramm-Rudman-Hollings) set annual deficit targets that were intended to lead to a balanced budget in 1991.
		Other changes in budget procedures that have been discussed in recent years include proposals to set enforceable caps on entitlement spending, to move to a biennial budget, and to make the Congressional budget resolution a joint resolution that must be presented to the President for his signature.
		Along with a constitutional amendment to balance the budget and the extension of the BEA procedures, those and other budget process changes are also likely to be considered in the 105th Congress.
	www.cbo.gov /showdoc.cfm?index=2&sequence=7 (1340 words)

	Gramm-Rudman-Hollings Balanced Budget Act (Site not responding. Last check: 2007-10-07)
		According to Senator Phil Gramm of Texas, a sponsor: "'Gramm-Rudman' was the first binding constraint imposed on federal spending, and its spending caps have become part of every subsequent U.S. budget.
		Together with a rapidly growing economy it produced the first balanced federal budget in a quarter of a century." " class="external">http://www.senate.gov/~gramm/bio.html
		However, those balanced budgets did not actually emerge until the late 1990s after the significant income tax rate increases under Presidents George H. Bush and Bill Clinton had had time to take effect.
	www.theezine.net /g/gramm-rudman-hollings-balanced-budget-act.html (129 words)

	Balanced Budget and Emergency Deficit Control Act of 1985: The Gramm-Rudman-Hollings Act
		Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 900) -- Public Law 99-177, as amended, prescribes rules and procedures designed to eliminate excessive deficits, including "sequestration." This act is commonly known as the Gramm-Rudman-Hollings Act.
		In 1987, Congress enacted the Balanced Budget and Emergency Deficit Control Reaffirmation Act which corrected the constitutional flaw in Gramm-Rudman-Hollings by assigning all the sequester responsibilities to the Office of Management and Budget (OMB).
		Budget Enforcement Act of 1990 (BEA) (2 U.S.C. 900) -- Title XIII of P.L. 101-508 significantly amended the laws pertaining to the budget process, including the Congressional Budget Act and the Balanced Budget and Emergency Deficit Control Act.
	wps.prenhall.com /wps/media/objects/751/769950/Documents_Library/gramm.htm (747 words)

	Gramm-Rudman-Hollings Act on Encyclopedia.com (Site not responding. Last check: 2007-10-07)
		Because the automatic cuts were declared unconstitutional, a revised version of the act was passed in 1987; it failed to result in reduced deficits.
		A 1990 revision of the act changed its focus from deficit reduction to spending control.
		Drafting a federal balanced budget amendment that does what it is supposed to do (and no more).
	www.encyclopedia.com /html/G/GrammR1udm.asp (302 words)

	Reconcilable Differences?
		He shows that the enactment of the Congressional Budget Act of 1974 and the introduction of the reconciliation procedure in 1980 have produced a budgetary system in which congressional majorities can get what they want, provided only that they can agree on a comprehensive budget policy.
		From his thorough analysis, Gilmour concludes that, while the reforms have not produced balanced budgets, they have eliminated procedural obstructions to the adoption of a coherent budget.
		Gilmour deftly shows that the massive budget deficits of the Reagan years were due primarily to the failure of the House, the Senate, and the President to agree on how to reduce spending or increase taxes enough to eliminate the deficit.
	www.ucpress.edu /books/pages/5365.html (431 words)

	The Ghost of Gramm-Rudman
		Three lawmakers — Phil Gramm of Texas and Warren Rudman of New Hampshire, Republicans, and Ernest Hollings of North Carolina, a Democrat — forged a sort of crude chastity belt for Congress.
		Gramm, famed for his brain, was wasting time on deficits; this reflected the party’s affection for tax cuts as the primary policy tool.
		Gramm himself, now installed in the private sector at UBS Warburg, what he thought.Yes, he said, budget cutting could obviate a tax increase.
	daily.nysun.com /Repository/getFiles.asp?Style=OliveXLib:ArticleToMail&Type=text/html&Path=NYS/2004/01/20&ID=Ar00801 (870 words)

	Online NewsHour: Contract With America
		In 1985, Congress passed the Balanced Budget and Emergency Deficit Control Act (P.L. 99-177; popularly known as Gramm-Rudman-Hollings) to establish steadily-declining deficit targets, supposedly bringing a balanced budget in FY 1991.
		In addition to the line-item veto, one of the more rigorous proposals that has garnered significant popular and congressional support is the balanced budget amendment.
		As stipulated in the U.S. Constitution, amendments to our founding document must be approved by two-thirds of those present and voting in both the House and Senate and three-fourths (38) of the 50 state legislatures.
	www.pbs.org /newshour/bb/congress/cwa/balanced_budget.html (825 words)

	Federal Budget Glossary (Site not responding. Last check: 2007-10-07)
		An appropriation is an act of Congress that generally provides legal authority for federal agencies to incur obligations and spend money for specific purposes, usually through the enactment of 13 separate appropriation bills.
		An authorization is an act of Congress that establishes or continues a federal program or agency, and sets forth the guidelines to which it must adhere.
		The unified budget is the presentation of the federal budget in which revenues from all sources and outlays to all activities are consolidated.
	www.ffis.org /misc/glossary.htm (952 words)

	George Bush Presidential Library and Museum (Site not responding. Last check: 2007-10-07)
		The most fundamental change needed in the Federal budget process is a constitutional amendment to require a balanced budget.
		A balanced budget amendment is both necessary and appropriate to protect the interests of a group of citizens not now able to represent themselves: the citizens of future generations.
		A balanced budget amendment must also include safeguards against a resort to higher taxes as a means of complying with the constitutional mandate.
	bushlibrary.tamu.edu /research/papers/1990/90042504.html (541 words)

	Augusta Georgia: opinion@ugusta: Calls budget surplus 'magic trick' 09/14/99
		Both the conservative Concord Coalition and the liberal Center on Budget and Policy Priorities also opposed any tax cuts.
		Hollings reported that a Congressional Budget Office study supports his statement that the only way to offer a tax cut is to raid the Social Security system.
		In this recent report the CBO predicted that 98 percent of the estimated $1.55 trillion in federal surpluses over the next 10 years will be attained by the build-up of Social Security reserves, which are suppose to keep the Social Security system solvent until 2032.
	www.augustachronicle.com /stories/091499/opi_004-1115.shtml (403 words)

	GRAMM (Site not responding. Last check: 2007-10-07)
		Search the GRAMM Family Message Boards at Ancestry.com (if available).
		Search the GRAMM Family Resource Center at RootsWeb.com (if available).
		Find graves of people named GRAMM at Find-a-Grave.com (or add one that you know).
	www.worldhistory.com /surname/US/G/GRAMM.htm (73 words)

	John Kerry presidential campaign, 2004 - Wikipedia, the free encyclopedia
		Kerry voted for the No Child Left Behind Act and argues that it should be "fully funded" which would entail funding several programs up to authorized levels of funding.
		Kerry voted against the Defense of Marriage Act (DOMA) in the Senate in 1996 and opposes the proposed Federal Marriage Amendment (FMA).
		In 2002, Kerry was one of the leaders of the Senate filibuster that defeated the Bush administration's proposal to open the Arctic National Wildlife Refuge to oil drilling.
	en.wikipedia.org /wiki/John_Kerry_presidential_campaign,_2004 (4368 words)

	Bowsher v. Synar (Site not responding. Last check: 2007-10-07)
		In order to eliminate the federal budget deficit, Congress enacted the Balanced Budget and Emergency Deficit Control Act of 1985 (Act), popularly known as the "Gramm-Rudman-Hollings Act," which sets a maximum deficit amount for federal spending for each of the fiscal years 1986 through 1991 (progressively reducing the deficit amount to zero in 1991).
		The Act's provisions give him, not the President, the ultimate authority in determining what budget cuts are to be made.
		By placing the responsibility for execution of the Act in the hands of an officer who is subject to removal only by itself, Congress, in effect, has retained control over the Act's execution, and has unconstitutionally intruded into the executive function.
	straylight.law.cornell.edu /supct/html/historics/USSC_CR_0478_0714_ZS.html (725 words)

	Case/Fair Macroeconomics MyPHLIP web site Chapter 15 -- Multiple Choice
		The government budget deficit tends to rise when GDP rises, and tends to fall when GDP falls.
		A decrease in government spending causes an increase in GDP and a decrease in the budget deficit.
		Suppose that the economy goes into a recession after the government had targeted the deficit; that is, the government had set the size of the deficit in advance.
	cwx.prenhall.com /bookbind/pubbooks/casefair6/chapter15/multiple1/deluxe-content.html (938 words)

	Macroeconomic Stabilization Policies (Site not responding. Last check: 2007-10-07)
		Therefore, the major portion of budget formulation involves passage on the overall level of spending and the individual appropriations, which must be enacted each year.
		The Act was designed to reduce some of the friction between Congress and the Administration by mandating that the federal budget deficit be reduced over the next five years to achieve a balanced budget by 1991.
		In response to the Humphrey-Hawkins Act in 1978, the Board of Governors is required to report these targets and the general stance of monetary policy to the Congress twice a year, in February and July.
	www.drfurfero.com /books/p231book/ch12.html (8544 words)

	[No title] (Site not responding. Last check: 2007-10-07)
		The new goals were pushed back a bit; the budget deficit would be $64 billion in 1991, but balanced by 1993.
		In 1992 the budget deficit hit a whopping $292 billion; in 1993, it fell to $255 billion; 1994, $202 billion.
		Phil Gramm and his voodoo brethren naturally will holler and moan that such moves will mean the end of Western civilization.
	www.mndaily.com /daily/gopher-archives/1995/02/07/W1J24~_$.TXT (732 words)

	[No title]
		Minarik’s discussion of the budget process is part of the all-day conference that explores the technical issues of closely held and flow-through entities.
		Minarik holds three graduate and post-graduate degrees in economics from Yale University and was the associate director for economic policy at the Office of Management and Budget under the Clinton administration.
		Minarik said he planned to discuss the recent evolution of the budget process from a time before the mid-1970s when the process had “no restraints,” through the mid-1980s with the introduction of the Gramm-Rudman-Hollings Balanced Budget Act, to the present.
	www.nysscpa.org /trustedprof/archive/0602/1Tp5a.htm (516 words)

	Back To Your Corner: Abacus, anyone?
		John Kerry was one of few Democrats who voted for the Gramm-Rudman-Hollings balanced budget act in the mid-1980s in an effort to achieve deficit reduction.
		He supported Clinton’s deficit reduction program and was in the Senate when the balanced budget was finally achieved.
		Ayatollah Bush, who ran as a “small-government conservative” in the 2000 election has drastically expanded the size of government, and with it the federal tax burden, during his first four years.
	pissedliberals.blogspot.com /2004/11/abacus-anyone.html (330 words)

	Statement on Signing the Bill Ratifying the Sequestration Order Affecting Funds for Fiscal Year 1986
		This act reaffirms the fiscal year 1986 sequestration of funds that was ordered by me on February 1, 1986, pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings).
		However, I remain firmly committed to the goal of a balanced budget and continue to believe that Gramm-Rudman-Hollings provides valuable incentives and tools to reach that goal.
		It is my hope that the Congress will act to avoid the necessity of a sequestration in fiscal year 1987 by enacting a budget that meets the deficit target of not more than $144 billion.
	www.reagan.utexas.edu /archives/speeches/1986/073186c.htm (201 words)

	Gramm-Latta Budget - Encyclopedia Glossary Meaning Explanation Gramm-Latta Budget (Site not responding. Last check: 2007-10-07)
		Gramm-Latta Budget - Encyclopedia Glossary Meaning Explanation Gramm-Latta Budget.
		The Gramm-Latta Budget 1981 and the Gramm-Latta Omnibus Reconciliation Bill of 1981 implemented President Ronald Reagan's economic program.
		This included an increase in military spending and some minor cuts in discretionary and entitlement spending.
	www.encyclopedia-glossary.com /en/Gramm-Latta-Budget.html (119 words)

	guinea.ca - balanced (Site not responding. Last check: 2007-10-07)
		His tip on how to learn how to balance was watch the top of the item and not the bottom, which I tried with a...
		Mavrix Balanced Income and Growth Trust is pleased to announce the monthly distribution of $0.0583 per unit payable on November 15, 2005 to unitholders of record as at October 31, 2005.
		Stocks were on a teeter-totter Thursday morning as investors balanced earnings concerns with some solid reports.
	guinea.ca /balanced/reference/search (312 words)

	St. Joseph Health System -- Current Legislation
		Spending Control Act of 2004 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to establish for FY 2005 through 2009 unspecified discretionary spending limits (spending caps) for the general purpose discretionary category in new budget authority and outlays.
		Provides that, in any of such fiscal years, discretionary advance appropriations provided in appropriation Acts in excess of an unspecified amount shall be counted against the discretionary spending limits for the fiscal year for which the appropriation Act containing the advance appropriation is enacted.
		Extends PAY-AS-YOU-GO requirements through FY 2009 to provide for an offsetting sequestration for direct spending (currently, direct spending and receipts) legislation that is enacted before October 1, 2009, that causes a net increase in direct spending (currently, net deficit increase).
	www.congress.org /sjhs/issues/bills?bill=6046911 (227 words)

	John Kerry voting record in Senate
		The candidates are an interesting group with diverse opinions: for tax cuts and against them; for NAFTA and against NAFTA; for the Patriot Act and against the Patriot Act; in favor of liberating Iraq and opposed to it.
		Bush again criticized Kerry for changing his position on the act, though most members of Congress, Republican and Democrat, insisted on a sunset provision so that the act could be evaluated to make sure civil liberties were being protected.
		Kerry voted against the Defense of Marriage Act in the early 90s so he's taken some heat for his current position that he's against gay marriage but believes the issue should be left to the states.
	www.orlandoreport.com /profiles/john_kerry_voting_record.htm (2040 words)

	Statement on the United States Supreme Court Decision on the Constitutionality of the Balanced Budget and Emergency ... (Site not responding. Last check: 2007-10-07)
		In holding that the Comptroller General's role in the act's sequester process was unconstitutional, the Court has cleared the way for Congress itself to make the decisions necessary to achieve the deficit reduction targets for FY 1986 and FY 1987 and a balanced budget in FY 1991.
		I believe the deficit targets of Gramm-Rudman-Hollings were and are a promise to the American people by their government -- a promise made only months ago -- to bring down the budget deficit over a period of years, starting with FY 1986.
		Congress may do this for FY 1986 by acting immediately to ratify the February sequestrations of $11.7 billion.
	www.reagan.utexas.edu /archives/speeches/1986/70786b.htm (312 words)

	The Economic and Budget Outlook: An Update
		The Balanced Budget and Emergency Deficit Control Act of 1985 (popularly known as Gramm-Rudman-Hollings) is also referred to in this volume more briefly as the Balanced Budget Act.
		The Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987 refers to amendments passed in late 1987 and is referred to in this volume more briefly as the Balanced Budget Reaffirmation Act.
		This volume is one of a series of reports on the state of the economy and the budget issued periodically by the Congressional Budget Office (CBO).
	www.cbo.gov /showdoc.cfm?index=6255&sequence=0 (703 words)

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