To express the sense of Congress that any new budget summit agreement between the President and the Congress should reduce the size of projected Federal budget deficits and control entitlement spending.

Expresses the sense of the Congress that if the President and the Congress determine that the Budget Summit Agreement should be reopened and defense spending reduced below its established level then: (1) reductions in defense spending below the amount set by the Agreement should be used to reduce the Federal budget deficit and provide economic growth measures, not to fund new Government spending; and (2) the modified agreement should include measures to control the growth of entitlement spending.