Last week, the nonpartisan Congressional Budget Office (CBO) released a report providing analysis of the long-term economic effects of forgoing the pay-as-you-go (PAYGO) budget rules. The report uncovered an alarming fiscal 2008 deficit that is likely to be one of the largest in history.  In a time when our national economy is deeply in a recession and many parts of our country are hovering around a depression, we must think about long-term solutions.  We must think about solutions for our children and grandchildren.  And we must find solutions that will decrease the $31,000 of individual debt that every American is carrying around today.

As members of Congress, we must do a better job of working together between both the Senate and the House, and on both sides of the aisle.  We must ensure that we are being fiscally responsible when debating and voting on bills and we must hold true to our commitment to PAYGO.

This entry was posted on Monday, July 21st, 2008 at 9:25 am and is filed under Politics, Economy/Budget .