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Democrats like Harry Reid, the Senate majority leader, support a deficit cap plan.
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With budget negotiations with the White House stalled, Speaker John A. Boehner of Ohio said Friday that the House would vote next week on a three-part plan to cut the deficit, cap federal spending as a share of the economy and amend the Constitution to require a balanced budget.
Republicans made clear that they intended to vote this week on their "cap, cut and balance" plan, which would cut the deficit, cap federal spending as a share of the economy and amend the Constitution to require a balanced budget.
In fact, of all the proposals under serious consideration in Washington, from the GOP budget and state "flexibility" plans to assorted bi-partisan spending or deficit cap approaches, it seems the only one that doesn't appear to set in motion spending ceilings is the House Progressive Caucus's "People's Budget".
Finance ministers from the 15 member nations of the European Union said that France, which plans a sweeping tax cut this year, might exceed the deficit cap set by the treaty that created the euro currency.
Conservative Republicans hate the deficit cap.
So in the standoff between the spending cap and the deficit cap, how might the two parties come together?
The deficit cap of 3percentt, however, is enshrined in the Maastricht treaty of 1991.
France and Germany are likely to breach the 3percentt deficit cap in 2004 for the third consecutive year.
Unlike Germany, Spain will not specify the size of the deficit cap in the constitution.
If Corker's spending caps and Reid's deficit caps got together, the save-as-you-go plan would be their love child.
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