Testimony of Robert Greenstein Before the House Budget Committee on on Pay-As-You-Go


 

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.