What happened to the Graham-Rudman Act?

Answer 1

Part of the Act was declared unconstitutional in 1986. The law itself was reworded in 1987, but the Balanced Budget Act of 1990 effectively killed the law in its application. However, the original Gramm-Rudman Act sparked an initiative that did lead to somewhat balanced budgets during the latter part of the Clinton Administration. Even today, spending caps - one of the fundamental concepts of the original act are still in law today.