Pay-As-You-Go: Makes Sense, Doesn’t It?

Today, House Democrats sent a clear message to the Senate and the nation – reducing the deficit and restoring fiscal responsibility are a must for this Congress.

American families know that using credit cards to pay off their bills is irresponsible spending that will drive them deeper into debt. Well, the government can’t live outside its means either. We must hold ourselves accountable for every dollar we want to spend to ensure that future generations are not stuck with the bills.

That’s why House Democrats attached statutory “pay-as-you-go”, or PAYGO, legislation to our Medicare Physician Payment Reform Act (H.R. 3961) today. PAYGO is a provision that requires Congress to find a way to pay for any new spending. By enacting statutory PAYGO, we will reduce the deficit and ensure we have resources available to fund our top priorities, including job creation, health care, and education.

We know it works: PAYGO policies led us from record deficits to record surpluses in the Clinton Administration.

Now, House Democrats are putting an end to the reckless “borrow-and-spend” policies of the Bush Administration and the Republican Congress and reinstating a proven policy that will help us get our economy back on track in a sound, fiscally responsible way.