The Budget Control Act of 2011 resolved the purported “debt ceiling crisis” of that year, when it was widely (but falsely) alleged that the U.S. would go into default if the debt ceiling were not increased. Hardly anyone liked the sequestration that resulted from that budget compromise, but I did. It was the only effective check on federal spending in my lifetime.
This video by the Center for Freedom and Prosperity makes the case for spending caps as the best way to restrain the growth of government. I think you will be impressed by the message, and I guarantee you will be impressed by the messenger, Yamila Feccia of Argentina: