Quigley Supports President Obama's Call to Enact PAYGO into Law

WASHINGTON, DC -- Today, U.S. Representative Mike Quigley (D-IL) echoed President Barack Obama's call for Congress to balance spending with equal savings and revive and make law the "pay-as-you-go" rules (PAYGO).

"Simply put, government should operate like any household does every day sensibly," said Cong. Quigley. "You live within your means, you pay for what you buy, and you plan for the future. You wouldn't plan an addition onto your home until you paid your child's tuition bill."

PAYGO would require Congress to pay for new spending, such as health care programs, by raising taxes or coming up with budget cuts to offset the expense. This "pay-as-you-go" system would only allow lawmakers to, as the President stated, "spend a dollar if it saves a dollar elsewhere." With the exception of Social Security and other exempt programs, the proposal also calls for automatic cuts to mandatory programs if funding offsets for new spending or tax reductions are not identified.

"This is only one common-sense step to restoring fiscal responsibility and decreasing the record deficit we inherited. We have more critical work to do to get us out of this hole, but in the meantime, we shouldn't be deepening it," added Rep. Quigley. "Like the hard-working families in the 5th District, government needs to tighten its belt, control spending, and stop putting Americans' futures on credit. I look forward to working with President Obama and my colleagues to put our fiscal house back in order and reinstate this important legislation."

During the Clinton administration, statutory PAYGO resulted in record surpluses. While Republicans subsequently repealed the law, Democrats immediately restored PAYGO into House Rules in 2007, though were unable to give the policy the force of law under the previous Administration. This year's budget reaffirmed a commitment to make PAYGO law.