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Publication Date: July 2007
Publisher: Center on Budget and Policy Priorities (Washington, D.C.)
Author(s): Robert Greenstein
Research Area: Banking and finance
Keywords: Economic projections; Tax code; Fiscal future; Federal budget
Type: Report
Abstract:
Enactment of a statutory pay-as-you-go rule would be highly desirable. But whether a statutory rule is established or not, what is of most importance is that Congress maintain a commitment to adhere to pay-as-you-go discipline even when living by that rule is not easy. Given the bleak long-term fiscal outlook for the nation, we cannot afford for Congress to do otherwise.