WASHINGTON – U.S. Rep. Gabrielle Giffords released the following statement today praising the Senate’s passage of pay-as-you-go legislation.
Often called PAYGO, the legislation is widely viewed as a critical step in restoring fiscal discipline to federal government spending. Similar legislation has already passed the House, where Giffords was a co-sponsor.
The Arizona lawmaker has been a member of the fiscally responsible Blue Dog Coalition since she joined the House of Representatives in 2007. PAYGO has been a Blue Dog priority since 1995.
President Obama reiterated his longstanding support for PAYGO today at a town hall in Tampa, saying it is the kind of “honest accounting” the government needs to get spending under control.
Giffords’ statement:
Our nation reached a significant milestone on Thursday with the passage of PAYGO legislation by my colleagues in the Senate. Their vote represents a win for the American people. It means that both chambers of Congress are now on record as supporting the kind of strict budget control measures that helped turn deficits into surpluses in the 1990s.
The men and women I represent in Southern Arizona, like most Americans, know that we simply cannot continue the reckless fiscal policies that were the hallmark of the last decade. The record deficit we face today is a direct consequence of those failed, shortsighted policies.
Families and business owners in Tucson or Sierra Vista realize that they can’t spend money they don’t have without facing dire consequences. The federal government needs to acknowledge – and abide by – that same fundamental fact of life. PAYGO will help achieve that goal.
If we do not pay for our priorities today, we are merely passing the bill – with interest – to our children and grandchildren. PAYGO is a proven effective tool for restoring fiscal discipline to our government.
PAYGO is rooted in a simple, common-sense premise: it requires that any new spending be offset with cuts elsewhere. This approach worked in the past and it will work again. It is a necessary step if we are to fulfill our responsibilities as stewards of the public purse and get our fiscal house in order.