Budget and Fiscal Responsibility
The national debt is one of the greatest threats to our country’s future. Balancing the federal budget has been one of my highest priorities since coming to Congress in 2006. As Co-Chair of the fiscally conservative Blue Dog Coalition and a member of the House Budget Committee, I am committed to working with Congressional lawmakers on both sides of the aisle to restore accountability and transparency to the federal government, balance the budget, eliminate wasteful spending and, and reduce the national debt.
The first step toward a balanced budget is adoption of pay-as-you-go, or PAYGO, rules which require all new federal spending be offset by either spending cuts elsewhere or new revenue sources. PAYGO, which has been largely ignored in recent years, is an effective fiscal tool that led Congress to a balanced budget in the early 1990s. I was proud to work with Congress and President Obama to reinstate these important fiscal rules in the 111th Congress.
As Congress continues to debate and craft the Fiscal Year (FY) 2012 Budget, I am working with my colleagues in the House and Senate and the President to find common ground on a budget that will responsibly cut spending and reduce the deficit. It’s time for leaders in both political parties to rise above partisan agendas and work together to implement a fiscal plan that is right for our country now and in the future.
I support the Blue Dog Benchmarks for Fiscal Reform as a framework for a long-term fiscal plan. These guidelines, which based upon some of the recommendations from the President’s bipartisan debt commission, are an aggressive set of targets for fiscal reform that will reduce spending and cut the deficit by $4 trillion over the next 10 years.
The Blue Dog Benchmarks put all options on the table---- including tax reform, defense spending cuts, and reforms to ensure the long-term sustainability of Social Security and Medicare--- as part of a larger deficit reduction plan. This plan establishes the goals and framework necessary to balance the budget and get our country on a fiscally sustainable path.
I look forward to continuing to work with my colleagues in the Blue Dog Coalition and other Members of Congress from both sides of the aisle to create a budget that is right for our country. With an honest effort from all sides, we can move forward in a bipartisan manner to balance our budget, reduce spending, and make wise investments in our nation’s future.