[Congressional Record Volume 155, Number 117 (Thursday, July 30, 2009)]
[House]
[Page H9166]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  1815
                                 PAYGO

  (Mr. PETERS asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. PETERS. Mr. Speaker, I rise today as a proud cosponsor of H.R. 
2920, the Statutory Pay-As-You-Go Act of 2009. This important 
legislation will establish mandatory pay-as-you-go budget discipline, 
rein in deficit spending, and reduce the national debt.
  In the 1990s, pay-as-you-go budget discipline was enshrined in law, 
and it led to record budget surpluses. After PAYGO was originally 
codified in 1990, total Federal spending as a percentage of GDP 
decreased each year from 1991 through 2000. After Congress let PAYGO 
expire in 2002, projected surpluses of $5.6 trillion were transformed 
into record deficits. Passing the Statutory Pay-As-You-Go Act of 2009 
will require Congress to make the tough choices necessary to get 
unacceptable high budget deficits under control and avoid passing 
today's costs onto our children, grandchildren, and future generations.
  Families make tough budget decisions to live within their means, and 
the government should be forced to do the same. I urge passage of the 
Statutory Pay-As-You-Go Act of 2009.

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