Pay-go: Now ya’ say so
President Obama is showing the world just how fiscally responsible he is. And he is only five months late.
Today, the Prez urged leaders in Congress to pass the so-called “pay-go” legislation, which basically says that Congress cannot spend a dollar without saving a dollar somewhere else. Probably not a bad idea on the surface, just like everything else the President tells us.
Obama also sought to continue to lay blame at the feet of the previous administration for the deficit issues. “The reckless fiscal policies of the past have left us in a very deep hole,” Obama said. “Digging our way out will take time and patience and tough choices.”
For those with an exceptionally short memory, this is the same man who quadrupled the federal deficit in his FIRST budget. TARP, the stimulus package which has yet to stimulate anything, not to mention future ridiculous spending, such as the health care initiative.
Which leads me to the issue with “pay-go”. This legislation will force Congress (with the “gentle” prodding of Obama) to raise taxes exponentially to fund all of their grandiose plans. Health care reform, which will probably cost in the trillions, will be funded by the massive electricity tax known as “Cap and Trade”.
It seems to me that “pay-go” will not institute the fiscal responsibility needed at the Capitol, it will only force those who cannot stop spending the taxpayers money to stick it to the taxpayer even more. Not a great plan in my book.
How about we just be stewards of the tax revenue instead of spending unprecedented amounts of money, which by the way we don’t have any to spend…and what we do have is quickly becoming worthless.
Here is the link to the “PAYGO” rules, you can bet their will be changes.
