July 18, 2011

KEITH HENNESSEY: Understanding “Cut, Cap, and Balance.” “The key to understanding this bill is that it focuses on government spending, rather than on taxes or deficits. The bill would achieve significant deficit reduction through cutting and limiting spending, and all of its mechanisms use spending rather than deficit targets. . . . I recommend supporting this bill even with its significant imperfections. I place enormous value on the creation of an enforceable cap on total government spending.” If Obama wants to veto it, let him.

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