Wednesday, February 10, 2010

Congress votes on fiscal restraint.


Finally, both House and Senate have approved the "pay as you go" budget discipline legislation.

The Senate passed the bill on Jan. 28 that requires offsets in spending elsewhere when Congress approves additional spending. The House passed it on Feb. 4. The House has abided by the budget discipline as part of its rules in the past, Senate has not had votes for approval in the past.

Republicans oppose it generally because if they cut taxes, they don't want to raise taxes, generally. Other criticism is that it doesn't cover 40 percent of budget that deals with discretionary spending, rather it only deals with expansion of entitlement/mandatory spending like Social Security, Medicare, welfare, and interest on the debt.

And although it doesn't cover everything in the budget, it does make Congress make tough choices if it decides to increase entitlement spending anywhere.

Here's where you can find a summary and House vote record. And the Senate vote is on the same page, just go to the vote listed on the left.

Although this may be a bit weaken than the law that was on throughout the 90s, it still remains a good first step to creating some kind of control on a Congress that doesn't seem to have any.

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