Larson Praises Obama's Commitment to Fiscal Discipline

Washington, DC – President Barack Obama was joined by Democratic Members of Congress today to express strong support for legislation that would reinstitute statutory pay-as-you-go (PAYGO) rules and restore fiscal discipline to the federal government.

Congressman John B. Larson (CT-01), Chairman of the House Democratic Caucus, said:

“I stand with my Democratic colleagues and President Obama today in their commitment to fiscal discipline and cutting the deficit.

“Strong fiscal discipline is one of the most important tenets of the work Democrats are doing in Washington. Former President Bush and Congressional Republicans took a $5.6 trillion surplus and left trillions of dollars in deficits.  While we revitalize and grow our economy and create good jobs we also know that we can’t leave the bill for past mistakes to future generations. That is why I support strong statutory PAYGO rules.

“When Democrats became the majority in Congress two and a half years ago we instituted strong pay-as-you-go rules to reduce the deficit and restore fiscal restraint.  We are working to reign in the waste, fraud and abuse that have plagued government spending so that the American people know we are getting the most for every tax dollar spent.  Just as American households are tightening their belts during these tough times, so too must the federal government.

“I look forward to working with President Obama to ensure the fiscal soundness of the federal government.”