The Debt Limit Deal and the Fiscal Responsibility Act

The Budget Control Act didn't really work for very long, especially because one Congress cannot really bind another unless you have a constitutional balanced budget amendment. The Fiscal Responsibility Act suggested to put in place new discretionary spending caps, but then also left open vast loopholes in order to abuse those. I actually think we're in a period now where I don't know that it makes sense anymore to talk about balancing the budget as sad as that sounds.