I
107TH CONGRESS
2D SESSION
H. R. 4758
To provide a responsible increase in the debt limit, restore fiscal discipline,
and safeguard Social Security.
IN THE HOUSE OF REPRESENTATIVES
MAY 16, 2002
Mr. MOORE (for himself, Mr. DAVIS of Florida, Mr. ETHERIDGE, Mr. ISRAEL,
Mr. MORAN of Virginia, Mr. PASCRELL, Mr. POMEROY, Mr. SANDLIN,
Mr. SPRATT, Mr. STENHOLM, Mrs. TAUSCHER, and Mr. TURNER) intro-
duced the following bill; which was referred to the Committee on Ways
and Means, and in addition to the Committees on the Budget and Rules,
for a period to be subsequently determined by the Speaker, in each case
for consideration of such provisions as fall within the jurisdiction of the
committee concerned
A BILL
To provide a responsible increase in the debt limit, restore
fiscal discipline, and safeguard Social Security.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Restore Fiscal Dis-
cipline and Safeguard Social Security Act of 2002’’.
SEC. 2. FINDINGS AND PURPOSES.
(a) FINDINGS.—The Congress finds the following:
(1) When Congress enacted the fiscal year 2002
budget resolution, it did so based on the assurance
that the Government would balance the budget with-
out relying on social security surpluses for the re-
mainder of the decade and beyond. Congress was
also assured that it would not have to act to increase
the statutory debt limit until 2008.
(2) The Government is projected to run on-
budget deficits that will require it to spend the social
security and medicare trust fund surpluses for the
rest of the decade, even before additional spending
for defense and homeland security is counted, and
after the economy recovers and returns to strong
growth.
(3) The total debt is increasing because we have
not kept the commitment to save the social security
and medicare trust fund surpluses. The Secretary of
the Treasury has formally requested that Congress
increase the statutory limit on the public debt by
$750 billion, from the current level of $5.95 trillion
to $6.70 trillion. Congress will have to vote to raise
the debt limit because we have been borrowing those
trust fund surpluses to cover a deficit in the rest of
the budget instead of saving them.
(4) A $750 billion increase in the debt limit
would be the second largest increase in history and
is irresponsible in the absence of a framework to
protect taxpayers from even further increases in the
national debt.
(5) Congress should authorize a limited increase
in the debt limit to prevent a financial default, but
should also work together with the President to de-
velop a plan to restore fiscal discipline before further
increasing our debt.
(6) Current law provides for enforcement of
budget resolutions:
(A) 
Legislation 
violating 
discretionary
spending totals set in a budget resolution or the
suballocations set by the Committee on Appro-
priations is subject to a point of order under
section 302(f) of the Congressional Budget Act
of 1974.
(B) Legislation reducing receipts below a
budget resolution’s total is subject to a point of
order under section 311(a) of the Congressional
Budget Act of 1974.
(b) PURPOSE.—The purpose of this Act is—
(1) to provide a responsible, measured increase
in the debt limit to ensure that the Government
meets its current legal obligations;
(2) effective immediately thereafter, to limit
strictly the size of further increases in the debt limit
until the enactment of a plan to bring the budget
into balance in five years without reliance on the so-
cial security trust fund surplus, such that any larger
increase in the debt limit this fall would require a
plan to balance the budget in fiscal year 2007, but
if this deficit reduction should prove insufficient, the
restrictions are automatically reestablished by the
next regular semi-annual report of the Congressional
Budget Office;
(3) to require that the President submit a
budget plan before the end of this fiscal year to
achieve balance, without reliance on the social secu-
rity trust fund surplus, by fiscal year 2007;
(4) as a backup and discipline for these debt
limit provisions, to establish points of order against
any budget resolution that does not within five years
and in all subsequent years eliminate any deficits
projected by the Congressional Budget Office, with-
out reliance on the social security trust fund surplus,
using the enforcement provisions in current law to