Government Economy and Spending Reform Act

[AI summary unavailable — showing source text] Government Economy and Spending Reform Act - Title I: Authorizations of New Budget Authority - Terminates on specified dates budget authority for all Government insurance, and Federal employee retirement and disability programs which are funded by trust funds. Declares out of order in either the Senate or the House of Representatives any legislation which authorizes new budget authority not in compliance with this Act. Requires the Committees on Appropriations and the Committees on the Budget of both Houses of Congress to identify each program's functional and subfunctional category, the Committees having legislative jurisdiction over such program, and whether such program operates under permanent authorizations and budget authority. Makes the budget termination provisions of this Act effective on the first day of the Ninety-sixth Congress. Title II: Early Elimination of Inactive and Duplicate Programs - Requires the Comptroller General of the United States to identify for Congress any programs which have duplicate objectives or for which no outlays have been made for the last two fiscal years. Directs the standing committees of both Houses to consider such programs and report reco…