What we need is a Seinfeld Congress

Let the sequester caps return as scheduled. Although the sequestration measures—which imposed spending caps and across-the-board cuts to defense and non-defense spending as part of the Budget Control Act of 2011—are imperfect, they are arguably the only fiscal policy victory in a very long time. Apart from being mostly reductions to the growth in spending over 10 years, the American people have gotten to see that the alarmist predictions that the caps would devastate the economy were hot air.

However, back in December 2013, Republican Rep. Paul Ryan made a deal with Democratic Senator Patty Murray to lift the sequester caps for fiscal years 2014 and 2015. By law, the caps are scheduled to return for fiscal year 2016. The effect is that if Congress does nothing this year, fiscal 2016 spending on defense and non-defense discretionary should remain virtually flat. Congress should sit on its hands and leave the sequester caps alone.