One More Chance for the House to Save the Economy

Even after agreeing to establish a "Super Committee" and kicking the can down the road, the U.S. House of Representatives still has one more card to play if there are enough Congressmen with guts. FY 2012 begins on October 1st of this year -- a scant month and a half from now.  Absent a "continuing resolution" by both Houses of Congress, there is no authority to spend any money after September 30th because there is no FY 2012 budget yet. The committee chairmen of the House could quickly prepare a FY 2012 budget by picking a budget from history (like, perhaps, the budget for FY 2000) and copying the spending side thereof for all departments.  The totals would not be the same because of the automatic spending for entitlements, but the resulting budget should produce significant savings by comparison to FY 2011 and will present the "Super Committee" with a fait accompli, forcing them to concentrate on entitlements to reach the paltry cuts agreed to in the debt ceiling...(Read Full Post)