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Reinstating Fiscal Discipline

Floor Speech

Date: Feb. 4, 2010
Location: Washington, DC
Issues: Government Budget and Spending

Mr. HEINRICH. Mr. Speaker, working families and small businesses across New Mexico face difficult budgeting decisions. And when it comes to the Federal budget, we owe it to them to spend within our means and without unreasonable borrowing. This legislation, referred to as PAYGO, mandates that the Federal Government pay for new tax cuts and spending by finding savings elsewhere.

In the 1990s, PAYGO helped turn massive deficits into record surpluses, but that policy was abandoned by the Bush administration. After not paying for two wars, two tax cuts, and a new entitlement program, we now face a growing deficit. I am an original cosponsor of PAYGO legislation because we have to get this deficit under control. For the sake of our children and for our financial future, we must reinstate fiscal discipline in Washington.

I urge my colleagues to support this bill.


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