Definition: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Restore Fiscal Discipline 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 without relying on social
security surpluses for the remainder 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 develop 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 Appropriations 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 social 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 security 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, without reliance on the social
security trust fund surplus, using the enforcement provisions
in current law to require that all subsequent spending and tax
legislation conform to the budget resolution's deficit-reduction plan;
and
(5) thereby to restore fiscal discipline and to preserve
social security for future retirees.

TITLE I--INCREASE IN DEBT LIMIT

SEC. 101. INCREASE IN DEBT LIMIT.

(a) Increase in Statutory Debt Limit.--Section 3101(b) of title 31,
United States Code, is amended by striking ''$5,950,000,000,000'' and
inserting ''$6,100,000,000,000''.
(b) Point of Order.--(1) Effective immediately, except as provided
by paragraph (2) or (3), it shall not be in order in the House of
Representatives or the Senate to consider any bill, joint resolution,
amendment, or conference report that includes any provision that
increases the limit on the public debt above the limit set forth in
section 3101(b) of title 31, United States Code, as in effect
immediately before the date of consideration of that measure by more
than $100,000,000,000.
(2) Except as provided by paragraph (3), any bill or joint
resolution may carry an increase in such limit of more than
$100,000,000,000 only if the concurrent resolution on the budget for
the budget year has been adopted and--
(A) sets forth or assumes a budget that is in on-budget
balance or surplus within 4 fiscal years after the budget year
and is in on-budget balance or surplus for every subsequent
fiscal year covered by that resolution; and
(B) does not contain any reduction in social security
benefits.
(3) Paragraphs (1) and (2) shall not apply in the House of
Representatives or the Senate if the chairman of the Committee on the
Budget of the House or of the Senate, as applicable, certifies, based
on the report of the Congressional Budget Office pursuant to section
202(e)(1) or (2) of the Congressional Budget Act of 1974, whichever
report is the most recent, that the budget will be in on-budget balance
or surplus within 4 fiscal years after the budget year and is in on-
budget balance or surplus for every subsequent fiscal year covered by
that report. If legislation to extend the discretionary spending limits
beyond fiscal year 2002 is enacted before the date of release of such
report, the Congressional Budget Office shall assume such discretionary
spending levels. Any such certification shall only have force and
effect until the date of submission of the next report under either
such section.

SEC. 102. PRESIDENTIAL PLAN TO BALANCE THE BUDGET.

(a) Presidential Plan.--The President shall submit to the Congress
by September 30, 2002, a proposal to bring the budget of the Government
(excluding the receipts and disbursements of the Federal Old-Age and
Survivors Insurance Trust Fund and the Federal Disability Insurance
Trust Fund) into balance or surplus by fiscal year 2007.
(b) Sense of Congress.--It is the sense of Congress that the plan
described in subsection (a) should be based on the most recent economic
and technical assumptions of the Congressional Budget Office.

TITLE II--CIRCUIT BREAKER TO PROTECT SOCIAL SECURITY

SEC. 201. CIRCUIT BREAKER TO PROTECT SOCIAL SECURITY.

(a) Circuit Breaker Points of Order.--(1) Effective January 1,
2003, whenever the most recent report of the Congressional Budget
Office pursuant to section 202(e)(1) of the Congressional Budget Act of
1974 projects an on-budget deficit for any fiscal year, it shall not be
in order in the House of Representatives or the Senate to consider any
concurrent resolution on the budget that--
(A) sets forth or assumes an on-budget deficit for any such
fiscal year that is larger than such Congressional Budget
Office projection for that fiscal year;
(B) sets forth or assumes a budget that is not in on-budget
balance or surplus within 4 fiscal years after the budget year
and is not in on-budget balance or surplus for any subsequent
fiscal year covered by that resolution; or
(C) contains any reduction in social security benefits.
(2) Effective January 1, 2003, whenever the most recent report of
the Congressional Budget Office pursuant to section 202(e)(1) of the
Congressional Budget Act of 1974 projects both on-budget surpluses (or
a balanced budget) and deficits for the fiscal years included in that
report, it shall not be in order in the House of Representatives or the
Senate to consider any concurrent resolution on the budget that--
(A) sets forth or assumes an on-budget deficit for any
fiscal year for which such Congressional Budget Office
projection for that fiscal year is for an on-budget surplus or
balance; or
(B) contains any reduction in social security benefits.
(b) Suspension of Requirement During War or Low Economic Growth.--
(1) Low growth.--If the most recent of the Department of
Commerce's advance, preliminary, or final reports of actual
real economic growth indicate that the rate of real economic
growth (as measured by real GDP) for each of the most recently
reported quarter and the immediately preceding quarter is less
than 1 percent, this section is suspended.
(2) War.--If a declaration of war is in effect, this
section is suspended.
Output:
Restore Fiscal Discipline and Safeguard Social Security Act of 2002 - Amends Federal money and finance law to increase the statutory debt limit to $6.1 trillion.Makes it out of order for the House of Representatives or the Senate to consider any bill or amendment that increases the public debt limit above the new one established by this Act by more than $100 billion, except in specified circumstances.Directs the President to submit to Congress a proposal to bring the budget of the Government (excluding the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund) into balance or surplus by FY 2007.Makes it out of order for the House or the Senate, whenever the most recent CBO report projects an on-budget deficit for any fiscal year, to consider any concurrent resolution on the budget that: (1) sets forth or assumes an on-budget deficit for any such fiscal year larger than such projection; (2) sets forth or assumes a budget that is not in on-budget balance or surplus within four fiscal years, and is not in on-budget balance or surplus for any covered subsequent fiscal year; or (3) contains any reduction in social security benefits.Makes it out of order for the House or the Senate, whenever the most recent CBO report projects both on-budget surpluses (or a balanced budget) and deficits for the fiscal years concerned, to consider any concurrent resolution on the budget that: (1) sets forth or assumes an on-budget deficit for any fiscal year for which the CBO projection is for an on-budget surplus or balance; or (2) contains any reduction in social security benefits.Suspends such requirements during war or low economic growth.