A bill to create a point of order against legislation making nondefense discretionary appropriations that would increase the deficit during a period of high inflation.

Mr. President, I disagree with my colleague's objection, but I think this issue is too important not to try to get something done today.

So, instead of enacting this point of order when the CPI reaches 3 percent, how about we raise it to 8 percent? Our current CPI level is at 8.3 percent. We see how bad things are right now. When the CPI gets close to where we currently are--inflation levels that we haven't seen since the 1980s--that is when this point of order would take effect.

At 8 percent inflation, we have reached a crisis point. It only stands to reason for Congress to start looking closely at every bill that increases the deficit. Such deficit-increasing bills should only be passed by Congress when absolutely needed.

Again, this point of order could be waived in the Senate with a two- thirds majority. I think this is reasonable and that we owe it to American families to start holding Congress accountable for the reckless spending that we know fuels inflation. Hopefully, my colleagues can agree to pinning this point of order to inflation at 8 percent.

As in legislative session, I ask unanimous consent that the Senate proceed to the immediate consideration of S. 4250, which is at the desk. I further ask that the bill be considered read a third time and passed and that the motion to reconsider be considered made and laid upon the table.

I object.