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But this legislation does not put a cap on spending.
And the official cap on spending per candidate has meant less business.
And I believe a balanced budget amendment, if it has a cap on spending, could do that.
A better business climate will bring jobs and tax revenues; a cap on spending will reassure Wall Street.
Worse yet, the latest version would impose an absolute cap on spending as a share of the economy.
Harman said: "Things like a cap on spending will be a significant change for the right reasons.
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"Historically, it is very extreme — strict caps on spending with tax collection rapidly increasing.
OCT. 1, 2011 Spending Caps Begin Caps on spending will reduce the deficit by $917 billion over 10 years.
Many Republicans favor hard caps on spending and don't want to raise taxes at all.
However, it said, that same combination of higher taxes and caps on spending will crimp economic growth.
Within the Bush administration and Congressional Republicans, the authorization levels are generally described as nothing more than caps on spending.
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