Larson: Democrats have a Proven Track Record of Deficit Reduction

Washington, DC – Today, the House of Representatives will restore the fiscal responsibility legislation that led us from deficits to surpluses during the Clinton Administration.  Pay-as-you-go, or PAYGO, rules will mean that every dollar we spend is accounted for and will not add to the federal deficit.  Congressman John B. Larson (CT-01), Chairman of the House Democratic Caucus, said:

“Democrats have a proven track record of deficit reduction and fiscal responsibility.  Last time a Republican administration left this country with mounting deficits, Democrats in Congress and President Clinton enacted PAYGO legislation to bring our federal budget from deficit to surplus.  Now, another Republican administration has left America with unprecedented deficits and an economy in shambles.  The Bush Administration inherited a $230 billion surplus and turned it into a trillion dollar deficit.  Once again, Democrats are stepping in and taking bold action to reinstate the policies abandoned during eight years of Republican rule to restore fiscal responsibility to federal spending.

“Washington Republicans talk a great game on fiscal responsibility. Unfortunately the numbers show that their actions don’t match their rhetoric.”