On the recordFebruary 7, 2012
For the purpose of debate only, I yield the customary 30 minutes to my friend from Massachusetts (Mr. McGovern) pending which I yield myself such time as I may consume. During consideration of this resolution, all time yielded is for the purpose of debate only. House Resolution 539 provides a structured rule for the consideration of H.R. 3581, the Budget and Accounting Transparency Act. This is another bill in a series of 10 bills that the Budget Committee is sending forward, Mr. Speaker, to try to align the kind of accounting and budgeting that we do in Washington with the kind of accounting and budgeting that happens in the real world. We know transparency and sound accounting matter. We know that it matters on Wall Street; we know that it matters on Main Street; and it matters right here between Independence and Constitution Avenues, Mr. Speaker. This bill has three primary provisions: Number one, it provides transparency by bringing off-budget items on- budget. Now, for folks who don't follow this as closely as you and I do, Mr. Speaker, you know that when things are off-budget, their degree of scrutiny is changed. When things are off-budget, the impact they have on the American taxpayer is not always reflected. When we take those things from off-budget and bring them on-budget, we begin to show the American taxpayer the real cost of their risk and responsibility.…
