Tuesday, April 05, 2011

Corker talks CAP Act at Cato

At a Cato Institute conference this Thursday, April 7, at 2 p.m. ET in Washington, Senator Bob Corker will make a presentation on the CAP Act, his bill to set a first-time, across-the-board cap on all federal spending. The fiscal straitjacket created by the CAP Act would result in $7.6 trillion less spending over a 10 year period than projected current policy and change the way Washington does business.

Cato Institute senior fellow Dan Mitchell wrote a blog post today entitled “Senator Corker’s CAP Act: A Better Version of Gramm-Rudman to Reduce the Burden of Government” that previews Senator Corker’s remarks on Wednesday.  Mitchell writes, “[Senator Corker] correctly understands that the problem is the size of government,” and that the CAP Act’s “sequester” provision or fiscal straitjacket “puts real teeth in the CAP Act and ensures that the burden of government spending actually would be reduced.”

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