Raising Women’s Voices

Obama announces PAYGO legislation

Posted in DC Reform by raisingwomensvoices on June 10, 2009

President Barack Obama announced today that his administration would be sending legislation to the U.S. House and Senate that would re-enact the 1990s-era “pay as you go” rule. This rule is an over-arching commitment on the part of policy makers and representatives to not allow new spending or tax changes to increase the federal deficit. In the President’s words: “Congress can only spend a dollar if it saves a dollar elsewhere”. This is an attempt by the administration to make sure the national deficit doesn’t get any larger, but it doesn’t offer any plans on cutting down on that deficit. With a $1.8 trillion dollar expected deficit at the end of the year, fiscal responsibility is a big conversation right now. PAYGO is one effort toward this. Check out the briefing with Peter Orszag (Office of Management and Budget director) on C-Span, and the article about this proposal from the Times.

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