Any bill passed to supposedly control Federal spending in the future is a waste of paper, time, and effort, because future politicians will refuse to vote against their own self-interests (re-election and/or lobbying income).
Federal spending will only be controlled when either the money is monetized into worthlessness, or the Federal government, and the American nation in general, collapses.
Correct.
When nobody buys the bonds anymore, a brief spell of hyperinflation will occur as the printing presses will have to go into overdrive to pay entitlements. Immediately after that an economic collapse into deflation will occur.
That’s the only believable ‘promise’ from a politician.
See how long the country lasts when the EBT cards stop working.