If Speaker Pelosi ever proposes a budget, there are some common-sense first steps that the framework should include:
1) Shut Down TARP: Congress should close down the Troubled Asset Relief Program (TARP) and use the money to pay down the deficit. It should absolutely not be used as a "piggy bank" to finance other unrelated domestic spending.
2) Repeal Unspent "Stimulus": The so-called economic "stimulus" legislation has not worked. Instead of keeping the unemployment rate below 8 percent, it stands at 9.9 percent nationally today and we're even deeper in debt.
3) Impose Strict Budget Caps: Congress should examine all spending proposals line-by-line and eliminate wasteful, unnecessary or duplicative spending, and save more than $375 billion using tools like strict budget caps.