,,iii  #aai? ,,congress  #b;d ,session  
,s4 ,,res4 #fed  ,,9 ,,! ,,s5ate ,,( ,,!
 ,,unit$ ,,/ates  ,m>* #bj1 #bjbf,mr4   
,cram] 7= himself1 ,mr4 ,k+1 ,mr4       
,pet]s1 & ,mr4 ,mc,cormick7 submitt$ !  
foll[+ resolution2 :i* 0 ref]r$ to !    
,committee on ! ,budget  ,,resolution   
,express+ ! s5se ( ! ,s5ate t ! ,unit$  
,/ates %\ld r$uce & ma9ta9 ! ,f$]al     
unifi$ budget deficit at or bel[ #c     
p]c5t ( gross dome/ic product4  ,:]eas  
r$uc+ annual deficits to #c p]c5t (     
gross dome/ic product has attract$      
bip>tisan support z a t>get to /abilize 
! national debt2 ,:]eas ! budget deficit
 0 #a1hjj1jjj1jjj1jjj = fiscal ye>      
#bjbe1 or r\ghly #f p]c5t ( gross       
dome/ic product 7ref]r$ to 9 ?is        
preamble z ,,gdp71 ev5 9 ! abs5ce (     
major new em]g5cy sp5d+2 ,:]eas !       
national debt held by ! public n[ /&s at
 ne>ly #ca1jjj1jjj1jjj1jjj2 ,:]eas      
int]e/ paym5ts on ! national debt are n[
 project$ to total m ?an                
#a1jjj1jjj1jjj1jjj1 ! highe/ level 9    

,am]ican hi/ory & m ?an total def5se    
sp5d+2 ,:]eas ! ris+ deficits & debt    
repres5t a ?reat to national security1  
economic gr[?1 & future g5]ations2      
,:]eas ris+ deficits also ?reat5 to     
increase int]e/ rates & ! co/ ( liv+1   
r$uce ! gov]nm5t's flexibility to       
respond to fiscal em]g5cies1 & create   
risks ( a fiscal crisis2 ,:]eas ! ,f$]al
 budget ran a sub-#c p]c5t              
deficit-to-,,gdp 9 #aihi1 #aiid1 #aiie1 
#aiif1 #aiig1 #bjjb1 #bjje1 #bjjf1      
#bjjg1 #bjad1 & #bjae2 ,:]eas ! ,f$]al  
,gov]nm5t ran a surplus 9 #aiih1 #aiii1 
#bjjj1 & #bjja2 ,:]eas deficit r$uction 
is be/ a*iev$ :5 aim+ t[>d a manageable1
 mean+ful t>get2 & ,:]eas ,congress has 
a bip>tisan responsibility to enact     
fiscal policies t promote long-t]m      
economic gr[? & to safegu>d future      
g5]ations1 & to be ready = future       
em]g5cies3 ,n[1 !re=e1 be x ,t x is !   
s5se ( ! ,s5ate t-- 7#a7 ,congress %\ld 
adopt a fiscal t>get to r$uce ! ,f$]al  
budget deficit to #c p]c5t ( gross      

dome/ic product 79 ?is resolution ref]r$
 to z ! t>get7 or less z soon z possible
 & no lat] ?an ! end ( fiscal ye> #bjcj2
  7#b7 foll[+ ! a*ievem5t ( ! t>get1    
,congress %\ld cont9ue to pursue fur!r  
deficit r$uction ) ! goal ( a*iev+ a    
balanc$ ,f$]al budget2  7#c7 ! ,presid5t
 %\ld submit budgets design$ to create a
 pa? to meet & su/a9 ! t>get2  7#d7 !   
congressional budget resolution %\ld set
 allocations consi/5t ) meet+ ! t>get on
 s*$ule2  7#e7 ! ,committee on ! ,budget
 ( ! ,s5ate %\ld1 )9 #ahj days1 recomm5d
 en=cem5t options = consid]ation1 :i*   
may include po9ts ( ord] & a back/op    
me*anism = :5 ! t>get is n project$ to  
be met2  7#f7 ! ,committee on ,rules &  
,adm9i/ration ( ! ,s5ate %\ld1 )9 #ahj  
days1 recomm5d *anges to ! rules ( !    
,s5ate to ensure t ! t>get c be met1    
includ+ ensur+ t rules ( ! ,s5ate =     
budget en=cem5t are difficult to waive1 
& t en=cem5t ( ! ,/atutory ,pay-,z-,y-,g
 ,act ( #bjaj 7,public ,law #aaa-aci7 is
 difficult to waive2  7#g7 !            

,congressional ,budget ,(fice %\ld      
include /atem5ts )9 its co/ e/imates =  
major legislation t demon/rate h[ !     
legislation affects consi/5cy t[>d !    
t>get "u a curr5t law basel9e2  7#h7 !  
,jo9t ,committee on ,taxation is        
enc\rag$ to provide supplem5tal analysis
 ( :e!r major legislation advances or   
imp$es progress t[>d ! t>get2 &  7#i7   
ef=ts to meet ! t>get %\ld exam9e *anges
 to address curr5t levels & ! gr[? (    
discretion>y appropriations1 direct     
sp5d+1 & rev5ues & ! gap betwe5 curr5t  
rev5ues & exp5ditures ( ! ,f$]al        
,gov]nm5t t avoid tim+ %ifts1           
reclassifications1 or o!r budget>y      
gimmicks4