Essay About Federal Budget Deficit And Emergency Deficit Control Act

Bowsher V. Senar, 1986
Essay title: Bowsher V. Senar, 1986
Bowsher v. Senar, 1986
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). If in any fiscal year the budget deficit exceeds the prescribed maximum by more than a specified sum, the Act requires basically across-the-board cuts in federal spending to reach the targeted deficit level. These reductions are accomplished under the “reporting provisions” spelled out in of the Act, which requires the Directors of the Office of Management and Budget (OMB) and the Congressional Budget Office (CBO) to submit their deficit estimates and program-by-program budget reduction calculations to the Comptroller General, who, after reviewing the Directors joint report, then reports his conclusions to the President. The President in turn must issue a “sequestration” order mandating the spending