DENNIS A. CARDOZA: “the past few years the Republican rule in Washington has left our Nation severely crippled with debt. Reckless fiscal…”

“the past few years the Republican rule in Washington has left our Nation severely crippled with debt. Reckless fiscal policies have turned record surpluses into record deficits in 6 short years. Democrats believe that fiscal responsibility is a crucial ingredient in good government. When we assume the majority in Congress next year, Democrats in this body will implement a pay-as-you-go plan for spending that will put our Nation back on the right financial path. Pay-as-you-go is the policy that helped us create those record surpluses in the late 1990s, surpluses that have been eliminated with tax breaks for the wealthiest few over the last 6 years. We must be accountable for every dollar that is allocated through this Congress, not constantly passing massive debt on to our children and grandchildren. Madam Speaker, after Republicans refused to live up to their promises of fiscal restraint, the American people turned to Democrats to get our Nation's books out of the red. When the next Congress begins, we will start the process by using commonsense measures such as pay-as-you-go.”