How to Fix the Budget Crisis
The proper legislation that the Republicans can use to fix things is to not extend the debt ceiling. The US govt revenue is 2.2 trillion a year. without borrowing, spending will have to drop to that level, rather than continue on at 3.7 trillion a year.
That will mean that the unconstitutional government Ponzi pseudo-insurance programs will have to be cut. They are about 60% of the budget, and cutting them to nothing would solve the problem nicely.