Bill Overview
Title: Fight Inflation Through Balanced Budgets Act
Description: This bill establishes points of order that may be raised in the Senate against (1) budget resolutions that do not include a balanced budget; and (2) provisions that would cause the total amount of appropriations for a program, project, or activity to exceed the authorized amount. The bill also limits waivers of budget points of order in the Senate, including by prohibiting (1) waiving multiple points of order against a measure using a single motion, and (2) waiving a point of order that has not been specifically raised by a Senator.
Sponsors: Sen. Braun, Mike [R-IN]
Target Audience
Population: Global citizens impacted by national fiscal policies and inflation control measures
Estimated Size: 330000000
- The bill is designed to impose stricter budgetary controls through the requirement of a balanced budget in budget resolutions, impacting all citizens by influencing national fiscal policy.
- A balanced budget requirement may lead to cuts in government services, impacting public sector employees, contract workers, and beneficiaries who rely on government-funded programs.
- Stricter budget controls could lead to either decreased government spending or increased revenues, both of which can impact the economic environment and inflation rates, indirectly affecting all consumers.
- The bill limits the Senate's ability to easily waive budget points of order, which could lead to more fiscal discipline but might also slow down legislative processes that fund or respond to economic issues.
- The legislation is primarily geared towards preventing inflation, which can broadly impact everyone in an economy, especially those on fixed incomes or with fewer financial resources.
Reasoning
- The bill aims to enforce fiscal discipline through balanced budgets, potentially impacting broad economic factors such as inflation and government spending.
- Most directly affected will be individuals dependent on government funding, including public sector workers and those on government assistance.
- Broad reach means nearly all American citizens will experience some impact, be it through changes in tax policies, service cuts, or inflation control measures.
- However, the degree to which citizens are affected will vary widely based on factors like occupation, dependency on federal services, and personal economic circumstances.
- Inflation control will have significant implications for low-income, fixed-income, and economically vulnerable populations, potentially affecting their cost of living.
Simulated Interviews
High school teacher (New York, NY)
Age: 45 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 4/20
Statement of Opinion:
- I'm worried about budget cuts affecting my school's funding.
- Balanced budgets sound good, but not if it means layoffs or larger class sizes.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 6 |
| Year 2 | 5 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 6 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
Retired (Phoenix, AZ)
Age: 60 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 3/20
Statement of Opinion:
- Inflation really hurts people on a fixed income like me.
- I'm concerned about cuts to social security and Medicare with a balanced budget requirement.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 4 | 5 |
| Year 2 | 4 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 6 | 6 |
| Year 10 | 7 | 6 |
| Year 20 | 6 | 5 |
Small business owner (Houston, TX)
Age: 32 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 3.0 years
Commonness: 5/20
Statement of Opinion:
- Balanced budgets should help long-term economic stability.
- I worry about the short-term effects on demand if government spending gets cut.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 8 |
| Year 20 | 8 | 8 |
Software engineer (Los Angeles, CA)
Age: 25 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 0.0 years
Commonness: 6/20
Statement of Opinion:
- I think a balanced budget could be good for the country’s financial health.
- I’m not directly affected by government budget cuts, but I follow economic policy closely.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 9 | 8 |
| Year 20 | 9 | 8 |
Auto industry worker (Detroit, MI)
Age: 52 | Gender: other
Wellbeing Before Policy: 6
Duration of Impact: 7.0 years
Commonness: 4/20
Statement of Opinion:
- I hope a balanced budget will help stabilize the economy.
- My job depends on a healthy economy and strong national demand.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 8 | 7 |
| Year 20 | 8 | 7 |
Nurse (Miami, FL)
Age: 40 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 5/20
Statement of Opinion:
- Cuts to healthcare funding would directly impact my job and patient care.
- Balanced budgets are important, but not at the expense of critical services.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 4 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 5 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 6 |
Graduate student (Salt Lake City, UT)
Age: 29 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 4.0 years
Commonness: 3/20
Statement of Opinion:
- Not knowing if education funding will be cut is stressful.
- I rely on federal aid, so budget cuts could affect my education plans.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 6 |
| Year 2 | 5 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 6 |
Nonprofit manager (St. Louis, MO)
Age: 55 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 3/20
Statement of Opinion:
- Our operations depend on federal grants, and cuts could mean losing services.
- Fiscal responsibility is important, but not if it cuts out essential services.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 4 | 5 |
| Year 2 | 4 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 5 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 6 |
Public transit operator (Chicago, IL)
Age: 38 | Gender: other
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 3/20
Statement of Opinion:
- As a public sector worker, I fear job cuts if funding is reduced.
- Having stable government services is crucial to my livelihood.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 7 |
| Year 2 | 6 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 8 | 8 |
| Year 20 | 8 | 8 |
Federal employee (Atlanta, GA)
Age: 50 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 8.0 years
Commonness: 2/20
Statement of Opinion:
- Cuts to government budgets put my job security at risk.
- I understand the need for fiscal responsibility, but job cuts are worrisome.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 7 |
| Year 2 | 6 | 7 |
| Year 3 | 6 | 7 |
| Year 5 | 6 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
Cost Estimates
Year 1: $5000000 (Low: $2000000, High: $10000000)
Year 2: $5000000 (Low: $2000000, High: $10000000)
Year 3: $5000000 (Low: $2000000, High: $10000000)
Year 5: $5000000 (Low: $2000000, High: $10000000)
Year 10: $5000000 (Low: $2000000, High: $10000000)
Year 100: $5000000 (Low: $2000000, High: $10000000)
Key Considerations
- Ensuring a balanced budget may require substantial changes to existing fiscal policies which could have broad economic implications.
- The effectiveness of the policy relies heavily on political will and the ability to enforce budgetary discipline within the legislative process.
- Implementation could meet resistance if it significantly alters funding for existing programs, affecting many stakeholders.