The truth is that paygo is the kind of budget gimmick that gives gimmickry a bad name. As Mr. Obama knows but won't tell voters, paygo only applies to new or expanded entitlement programs, not to existing programs such as Medicare, this year growing at a 9.2% annual rate. Nor does paygo apply to discretionary spending, set to hit $1.4 trillion in fiscal 2010, or 40% of the budget. Full Story »
Posted by Derek Hawkins
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The journal of the right rich republicans provides another cup of political venom substituted for your morning latte. It has an extremely partisan slant, overreaching and screeching.
An angry but well supported debunking of what the Journal calls Obama's PAYGO "gimmick." There's enough factual evidence and background here to make a strong case that PAYGO isn't the panacea for budget imbalances that Obama portrays it as, nor is it as simple as "spend here, cut there."
Coming after $787 billion in nonstimulating stimulus, a $410 billion omnibus to wrap up fiscal 2009, a $3.5 trillion 2010 budget proposal, sundry bailouts and a 13-figure ... More »
