[Congressional Record (Bound Edition), Volume 156 (2010), Part 1]
[House]
[Page 1076]
[From the U.S. Government Publishing Office, www.gpo.gov]




              PAYGO: EFFECTIVE TOOL FOR ADDRESSING DEFICIT

  (Mr. BACA asked and was given permission to address the House for 1 
minute.)
  Mr. BACA. Madam Speaker, the House this week will consider 
legislation reestablishing statutory pay-as-you-go. That's PAYGO. In 
1990, the Clinton administration turned the deficit into a record 
surplus, due in part by adhering to PAYGO, a principle that compels 
Congress to pay for what we buy. However, under a Republican President 
in Congress, PAYGO was waived and allowed to expire, clearing the way 
for policies that wiped out $5.6 trillion of surplus and a huge debt 
financed by tax cuts for the wealthiest Americans that will have to be 
paid by the next generation. Restoring our national fiscal health will 
not be quick or easy, but restoring PAYGO is an important step towards 
that goal.
  PAYGO has a history of bipartisan support. Democrats hope the 
Republicans will join us this week in supporting this proven tool for 
fiscal responsibility. I hope that they will not continue to be the 
Party of ``No'' and they'll have the principles invoked for PAYGO.

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