Pence Statement on PAYGO

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JULY 22, 2009

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Washington, DC - U.S. Congressman Mike Pence, Chairman of the House Republican Conference, made the following statement on the House floor today regarding the Democrats' PAYGO bill:

"I'm sorry I missed Speaker Pelosi's remarks on the floor on this PAYGO debate but I do have a copy of what she said in January of 2007. She said, ‘After years of historic deficits this new Congress will commit itself to a higher standard, pay as you go, no new deficit spending. Our new America will provide...' Under the Democrat majority, we have seen a Congress that's presided over the most unprecedented spending spree in American history.

"Since Democrats took over, the nation's deficit has exploded by a factor of ten, $162 billion in fiscal year 2007. We are at $1 trillion now and we're headed for $1.8 trillion in fiscal 2009. Public debt has doubled from $4.8 trillion to $8.6 trillion. The national debt is set to triple by 2019 under the Democrats' budget, including PAYGO. Now, I heard the president had to move his press conference from 9:00 p.m. to 8:00 p.m. tonight because the popular television show ‘America's Got Talent' is on at 9:00 p.m. The president's going to have his press conference at 8:00 p.m. So, the TV lineup tonight should be ‘America's Got Talent' at 9:00 p.m. and ‘America's Going Broke' at 8:00 p.m. and there's nothing in this PAYGO rule that's going to do anything about it.

"The truth is, that even under this PAYGO deal, discretionary spending - which amounts to 40 percent of all the spending - is being increased at 8 percent in this year and it's completely excluded from this. Emergency legislation, mandatory spending is not subjected. Hundreds of mandatory programs are not subjected. We are hearing a lot about fiscal discipline, putting our fiscal house in order, but the truth is when Democrats say PAYGO, they mean you pay and they go on spending.

"Well, as usual, Republicans have a better plan to restore fiscal sanity to Washington, D.C. Thanks to the great leadership of Congressman Paul Ryan of Wisconsin; the Republican substitute will focus on spending. The fundamental problem with government's fiscal policy is spending and the deficit. It targets problem areas by sequestering certain discretionary spending that grows faster than inflation. It protects retirees, troops and veterans. No automatic tax increases. It actually reduces the deficit and takes a very straightforward approach and I commend my colleague for bringing it forward.

"I urge my colleagues to get real. No more slogans. No more prepackaged bumper sticker talk about fiscal discipline and reform. The American people want us to come together in real and meaningful and bipartisan ways to get spending under control here in Washington, D.C. and the Ryan substitute is a powerful and important step in that direction. And I urge its support."

Note: To view this speech, click here.

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