WASHINGTON, D.C. – U.S. Congressman Allen Boyd (D-North Florida) today applauded passage of the Statutory Pay-As-You-Go Act of 2009 that would reinstate statutory pay-as-you-go (PAYGO) rules into federal law, a longstanding priority of Congressman Boyd’s.  PAYGO is a proven-effective budget enforcement tool that only allows Congress to spend a dollar to create new programs if it saves a dollar elsewhere, thereby helping to reduce deficits and spending.

 

“The passage of PAYGO in the House is a tremendous victory for the American people and for those of us who know that our federal government cannot afford to continue to live outside its means,” said Congressman Boyd.  “We are putting our economy and national security at risk by allowing so much of our debt to be held by so few, and we are merely passing the bill – with interest – to our children and grandchildren.  I believe this irresponsible practice is fiscally reckless and morally wrong.  While PAYGO is not a cure-all for all of our economic problems, it is an invaluable tool that will help limit the size of deficits, hold the line on spending, and put our country back on a fiscally responsible path.”

 

Throughout his years in public service, Congressman Boyd has been one of the strongest voices for fiscal responsibility in the federal government, and he has consistently led the charge to restore budget enforcement tools, like PAYGO.  This commonsense principle was implemented with bipartisan support in 1990 and led to balanced budgets and later surpluses, until it was allowed to expire by the Republican-led Congress in 2002.

 

“Reinstating PAYGO budget discipline has been a long-standing priority of mine, and today we are taking the next step to make that goal a reality,” Boyd stated.  “The House has acted, and now the Senate must act as well.  It is time to put an end to the out-of-control deficit spending that has led our country down such a fiscally disastrous path.  I will continue to work with my colleagues in the House and the Senate to see that statutory PAYGO reaches the President’s desk.”

 

The Statutory Pay-As-You-Go Act of 2009 now awaits consideration by the Senate.

 

 

 

 

 

 

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