Throughout this Congress, Democrats have passed legislation to help bring the deficit down and set a path toward long-term fiscal balance, including a budget enforcement resolution, PAYGO, and additional measures to address waste, fraud and abuse – almost entirely without Republican support. While Republicans were in charge, they allowed the “pay-as-you-go” law to lapse, squandered surpluses, and increased spending, supporting irresponsible policies that created the record deficits and debt that made it more difficult to pull the country out of a deep recession. Today they threaten to take us back to those failed policies rather than work with Democrats to address the deficit, help middle class Americans, and set a solid foundation for a strong fiscal future.
Democrats Enact Statutory “Pay-As-You-Go” to restore the 1990s law that helped turn record deficits into surpluses by ensuring that Congress must offset new policies that reduce revenues or expand entitlements.
Democrats Enact Health Care and Education Reforms that will cut the deficit by more than $1 trillion over the next 20 years, slow the growth of health care costs and produce long-term savings, and end wasteful student loan subsidies to financial institutions that deliver student loans.
Democrats Enact Weapon Systems Acquisition Reform to crack down on waste and cost overruns in the acquisition of weapon systems, increasing oversight and competition while decreasing spending.
Democrats Pass Improper Payments Elimination and Recovery Act to eliminate waste, fraud, and abuse by identifying, reducing, and eliminating improper payments by federal agencies – estimated at $98 billion in FY 2009. The House sent this bill to the President’s desk this week to become law.
Democrats Pass Budget Enforcement Resolution that cuts discretionary spending below the President’s budget, reinforces commitment to PAYGO, directs committees to cut waste, fraud and abuse, endorses the goals of the fiscal commission and commits to a vote on their recommendations.
Democrats Pass IMPROVE Acquisition Act to reduce spending and restore fiscal responsibility, saving taxpayers billions while ensuring that our troops have the equipment they need to accomplish their mission.
Democrats Pass Government Efficiency, Effectiveness and Performance Improvement Act to help reduce the nation’s deficit by shining a light on ineffective federal programs.
Democrats Create Bipartisan Fiscal Commission to bring down the deficit and develop long-term solutions to the Bush deficit.
