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Jim Bunning on Pay-Go

March 6th, 2010 | Tags: Budget Ethics, CPA Continuing Education, Debt, Generational Ethics, Jim Bunning, Pay Go, Political Ethics

Jim Bunning: Why I took a stand

…For too long, both Republicans and Democrats have treated the taxpayers’ money as a slush fund that does not ever end.

…Over a month ago,…President Obama signed into law the “Pay-Go” legislation. It calls on Congress to pay for bills by not adding to our debt. It sounds like a common sense tool that would rein in government spending. Unfortunately, Pay-Go is a paper tiger. It has no teeth.

…Since the Pay-Go rule was enacted, the national debt has gone up $244,992,297,448.11 (as of Wednesday, that is).

Why now?

Last week, Majority Leader Harry Reid, D-Nev., asked to pass a and other federal programs. Earlier in February,…30-day extensions bill for unemployment insurance…were included in a broader bipartisan bill that was paid for…

When I saw the Democrats in Congress were going to vote on the extensions bill without paying for it and not following their own Pay-Go rules, I said enough is enough.

…Why can’t a non-controversial measure in the Senate that would help those in need be paid for? If the Senate cannot find $10 billion to pay for a measure we all support, we will never pay for anything.

America is under a mountain of debt. Federal Reserve Chairman Ben Bernanke said in a hearing last month that the United States’ debt is unsustainable. We are on the verge of a tipping point where America’s debt will bring down our economy, and more people will join the unemployment lines. That is why I used my right as a United States Senator and objected.

…After four legislative days of impasse, I reached a supposed deal with Majority Leader Reid to have an up-or-down vote on a pay-for amendment that would fully fund the legislation and not add to the debt.

Only minutes before the vote, Democrats used a parliamentary maneuver to set aside my amendment and not vote on the actual substance of it.

…We are at over $12 trillion in debt. I know many Americans sit around their kitchen table and make the tough decisions. It is time for the politicians in Washington to do the same.

Jim Bunning,
Kentucky Senator, USA

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