House Budget Committee Chairman John Spratt released a report outlining steps Democrats have taken to restore fiscal discipline in the first nine months of the 110th Congress.
In its first one hundred hours, the House passed a pay-as-you-go rule requiring new entitlement spending and new tax cuts to be fully offset. Democrats have steadfastly enforced the pay-as-you-go rule on every bill brought to the floor.
The report, 'Democrats Restore Fiscal Responsibility: The Pay-as-you-go Rule and the 110th Congress,' includes a list of more than 30 House bills that required pay-as-you-go offsets of $1 million or more.
Chairman Spratt noted that from 2001 through 2006, on the watch of President Bush and a Republican Congress, a $5.6 trillion ten-year budget surplus turned into a ten-year deficit of more than $2 trillion. This year congressional Democrats passed a budget resolution that returns the budget to balance by 2012, while accommodating middle-class tax cuts consistent with pay-as-you-go. The House also ended the practice of using fast-track reconciliation procedures to ease passage of legislation that made the deficit worse, not better.
Read the report>>