Budget & Fiscal Responsibility

Congressman Hoyer is fighting to address our nation's deep deficits and debt, and is actively engaged in the effort to put our country on a fiscally sustainable path. He believes that it is immoral to expect future generations to pay for the excess spending of this and previous generations. He introduced and successfully helped enact into law the pay-as-you-go principle - or "PAYGO" - a proven tool for fighting debt that that helped create budget surpluses in the 1990s. Like families across the country, Congress must make the tough choices to determine our real priorities and not spend beyond our means.  PAYGO also forces Congress to look harder for wasteful spending that can be cut.

Congressman Hoyer has called on Congress to enact a deficit reduction plan that recognizes the need to create jobs in the short term while bringing down our deficit over the long term. He supports a solution that puts all options on the table, including spending cuts, increasing revenues, cutting waste in defense spending, and strengthening entitlements while protecting seniors and the most vulnerable and preserving the Medicare guarantee. He has urged both parties to compromise on a balanced approach that asks all Americans to contribute their fair share.

Congressman Hoyer is committed to reducing the deficit, and has urged both parties to work together to put our nation on a fiscally sustainable path while making the investments we need to have a strong economy.

House Sends Hoyer Fiscal Responsibility Measure to President

WASHINGTON, DC - The House today approved statutory pay-as-you-go (PAYGO) - a measure sponsored and long-championed by Congressman Steny H. Hoyer (D-MD) to help restore fiscal discipline and begin bringing down the nation's deep deficits.________________________________________________________________________

Hoyer Remarks on Statutory PAYGO at Press Conference with Blue Dog Leaders

House Majority Leader Steny H. Hoyer (MD) joined Blue Dog Leaders and Members today for a press conference on statutory "pay-as-you-go" (PAYGO), which will be considered on the House Floor tomorrow. Below are his remarks as prepared for delivery.

Hoyer: Obama's Budget a Strong Blueprint for Job Creation, Economic Security and Fiscal Responsibility

WASHINGTON, DC - Congressman Steny H. Hoyer (D-MD) said today that President Obama's budget request for fiscal year 2011 will make wise investments to create jobs, strengthen economic security for Maryland families, and fund essential priorities in the State, while taking the commonsense steps to put the nation back on a path to fiscal order.________________________________________________________________________

Hoyer Fiscal Responsibility Measure Passes Senate; House to Vote Next Week

WASHINGTON, DC - Congressman Steny H. Hoyer (MD) praised Senate passage today of statutory pay-as-you-go, or PAYGO, legislation as an important step in restoring fiscal responsibility and making sure government lives within its means. The Senate amendment was based on H.R. 2920, legislation introduced by Rep. Hoyer and passed by the House in July 2009.________________________________________________________________________

As Economy Recovers, 2010 Agenda - Jobs and Fiscal Responsibility

President Obama took office facing an economic crisis on a scale unseen since the Great Depression. Wall Street greed, fiscal irresponsibility during the previous Administration, and regulatory neglect all combined to crash our economy; but since then, the President and Congress have been determined to repair the damage. Our efforts have made real progress, but damage of the kind we saw last fall cant be undone in a year; an unemployment rate of 10% means that millions families continue to struggle.

Hoyer Statement on Financial Crisis Responsibility Fee

WASHINGTON, DC - Congressman Steny H. Hoyer (MD) released the following statement today after President Obama proposed a Financial Crisis Responsibility Fee to fully recoup taxpayers for their assistance to Wall Street:________________________________________________________________________

Congress Must Pay for What It Spends

In recent years, America's fiscal story has been one of steady decline -- from record surpluses to record deficits. In 2001, the federal government had a projected 10-year surplus of $5.6 trillion. Today, we are looking at a fiscal year 2009 deficit of $1.7 trillion.________________________________________________________________________