Q&A: House PAYGO Restores Fiscal Responsibility

For Immediate Release:

July 21, 2009

Contact:Katie Grant
Stephanie Lundberg
(202) 225 - 3130

This week, the House will consider legislation reestablishing statutory “pay-as-you-go” (PAYGO). In the 1990s, the Clinton Administration turned deficits into record surpluses due in large part to adhering to PAYGO, which compelled Congress to find offsetting savings for the dollars it spent. However, under President Bush and Congressional Republicans, PAYGO was waived and allowed to expire, clearing the way for policies that wiped out those surpluses, including huge tax cuts for the wealthiest Americans that will have to be paid for by the next generation. Democrats understand that restoring our nation’s fiscal health will not be quick or easy, but reinstating PAYGO is an important step toward that recovery.
 
 
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