Once we have a plan in place that reduces spending and increases revenues, a strong annual budget process for the government would help us stay on track.
The economy goes through cyclical movements over time, with periods of growth followed by downturns. To help improve responsiveness to fluctuations in the business cycle, a number of important programs in the federal budget automatically increase or restrain spending depending on economic conditions.
Understanding what’s happening on Capitol Hill requires an understanding of the Congressional budget process — which is notoriously technical, complex and arcane.