To express the sense of Congress regarding the use of a safety mechanism to link long-term Federal budget surplus reductions with actual budgetary outcomes.

Expresses the sense of Congress calling for use of a legislative "trigger" mechanism that: (1) links the phase in of long-term, Federal surplus-reducing actions adopted by the 107th Congress to actual budgetary outcomes over the next ten fiscal years; and (2) outlines specific action that shall be taken should specified levels of Federal debt reduction or on-budget surpluses not be realized, in order to maintain fiscal discipline and continue reducing the national debt.