Dennis Moore: “I would support the proposal before this House today if there were just one additional provision, and that is something…”

“I would support the proposal before this House today if there were just one additional provision, and that is something I moved during the Budget Committee last week, to reinstate and add as an amendment to this PAYGO provisions that Mr. Spratt mentioned early. PAYGO sounds complex. All it really is if you have a new spending proposal or a new tax cut proposal, the first section is, here is my proposal. The second provision is, here is how it will be paid for. If we want to truly restore fiscal responsibility to this body, and to our Nation, we need to reinstate PAYGO that expired in 2002. Over the last 5 years Congress has raised the debt limit four times by $3 trillion; raised the debt limit by $3 trillion in the last 5 years. The most recent was almost $800 billion in March of this year. Unfortunately, our current fiscal carelessness is going to land squarely on the shoulders of our kids and grandkids. We are putting our children and grandchildren in a hole so deep they may never be able to climb out. Each person in this country now has their share of the national debt at $28,000. This debt tax, Mr. Speaker, that we are imposing on our children and grandchildren cannot be repealed and can only be reduced if we take responsible steps now. We should and must reinstate PAYGO rules.…”