WASHINGTON (CNN) - President Barack Obama on Tuesday proposed making "pay-as-you-go" rules for federal spending into law.
The so-called PAYGO proposal requires Congress to balance any increased spending by equal savings elsewhere, Obama told a news conference.
A previous PAYGO mandate helped erase federal budget deficits in the 1990s, and subsequent ineffective rules contributed to the current budget deficits, Obama said. Now the PAYGO rules should be the law, he said.
"Paying for what you spend is basic common sense," Obama said. "Perhaps that's why, here in Washington, it's been so elusive."
Republican leaders said the proposal comes after record spending initiatives by the Obama administration, such as the $787 billion economic
stimulus program.
"It seems a tad disingenuous for the president and Speaker (Nancy) Pelosi to talk about PAYGO rules after ramming trillions in spending
through Congress proposing policies that create more debt in the first six months of this year than in the previous 220 years combined," said Rep. Eric Cantor of Virginia, the House Minority Whip.
A White House statement said Obama's proposal calls for the Office of Management and Budget to maintain a ledger of the average 10-year budgetary effects of all legislation affecting mandatory spending or baseline tax levels.
Any extra cost that lacks payment authorized by Congress would require the president to find money within the budget to pay it, while any tax cut would require a corresponding increase in tax revenue.
Some costs would be exempt, including Medicare payments to doctors, the estate and gift tax, and tax cuts enacted in 2001 and 2002, the White House statement said.
From CNN Politics
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This is the best way to go ,not borrow from China like Bush did.Rush the liar is on the ropes and may blow a fuse anyday,lets hope so Americans.
I agree with you Mr. Obama – but also point out since it is the right thing to do – I won't happen – and I also don't believe you can do your massive health coverage promise with pay as you go – I hope you do though.
Cantor's comment shows that they aren't at all interested in fiscal discipline, just in making political points. He doesn't have the facts right, either. The national debt was 10.7 trillion on January 1st, and 11.4 trillion on June 9. Someone needs a remedial math class.
Great now that he has bankrupt this country he will propose this. Kind of like the promise of eliminating the pork...............Next time! This guy is nothing but do as I say, not as I do!!
LOL...the GOPers are going to have coniption fits over this because he's suggesting something fiscally responsible and they don't want him to have that appearance whatsoever. Cantor a/k/a Boehner's Lapdog was fairly predictable...and no, the 220 year figure is not adjusted for inflation so that we'rea talking about 2009 money versus 2009 money. He wants to call it disingenuous for Obama to talk about this, but the reality is, it's disingenuous for the GOP, with all it's foaming-at-the-mouth "fiscal responsibility" rhetoric (which, after the past 8 years, is dinsingenuous in and of itself), to criticize him for it.
Hey, gosh, the government would have to do what the American people have always had to do?
Way to go for pay as you go, President Obama,
Being a spendthrift and frugal country should be any Govt.'s aim in order to counter the arguments of the opposition party.
"Paying for what you spend is basic common sense," Obama said. "Perhaps that's why, here in Washington, it's been so elusive."
The apocalypse is near... I agree with the President.
How about a balanced budget amendment next? After all, most states require it.
ok people....you have to invest in new economies to save the united states. obama spent and invested. shut your mouth about his spending when you think we should basically leave everything how bush left it. ITS ABSOLUTELY INSANE!!! get your head out of the sand!! we need to escape these greedy banks we need to regulate them. we need to invest in new sources of energy for NEW ECONOMIES and to protect our enviornment. but you IGNORANT people know NOTHING!!!
If he really wanted to shoe some genuine concern over irresponsible spending, he would make PAYGO retroactive to the beginning of his term. This "act" is all show.
This is like a couple going on a spending spree, maxing out all of their credit cards and declaring bankrupcty. THEN, deciding they should operate under a budget.
Too little too late.
Is this fraud in chief serious?
Just like he lied about Sotomayor "mispeaking" on the speech in 2001 when in FACT she has had the speech published as is and has said the same thing at least 6 OTHER times, mispeaking Barry, hardly.
Just like he is lying about creating or saving 150,000 jobs when there is no formula or PROOF of that being the case, but the media says nothing.
Just like he lied about us being one of the biggest muslim countries, when in FACT we don't crack the top 30 and again the media says nothing.
He is drunk with power where he believes everything he says is gospel and the media buys into it.
We the people are starting to pay more attention and his policy position numbers are going down, just like this phony will be going down in 2012.
One and done, EXPERIMENT failed.
And where exactly did the $787 billion get cut to match Umbama's spending in stimulus.
Or does he really have the audacity to think it doesn't apply to Umbama, The One.
Dude, we can see you, you know!
Obama is making it up as he goes.......no real vision there.....what a monkey!
If they cut spending to match Obama's spending, the government would would have no money to spend and would have to close up.
Can we stop the BS...please.
It seems ironic that the republicans are critical of the Presidents motives when there boy 'DUBYA' allowed paygo to lapse in 2002 so he can go on his spending spree for 2 wars then gave tax breaks to all his rich friends leaving it impossible to pay for his wars of choice.
"while any tax cut would require a corresponding increase in tax revenue"
This statement on the heels of common-sense being elusive in Washington. Oh, now I see, cut taxes (exemptions) for one group (SCHIP beneficiaries) while raising them on another (smokers).
Some costs would be exempt, thereby rendering the whole concept null and void. This is an all or nothing program, you either pay as you go or you don't. It sounds good, (albeit about 5 months too late) sort of like they are taking responsibility, but not really.
I think I'll implement paygo here at the house. I'll reimburse the local grocer for all of the beer I consume, but not worry so much about the electric and cable bills.
He needs some guidance on how this works. Two words ... John Kasich.
Okay, this actually makes sense. Is he proposing it now that he has spent all the money? To screw up his sure to be republican successor? You know the proposal is not made out of true caring for the American Taxpayer. Have ACORN and the unions gotten everything they can? Whats the deal?
Isn't he a little late? Does this mean he is going to apply this rule to the other $50 billion dollars he is going to give GM or the other $20 billion to Chrystler? OF COURSE NOT.
This is the same guy that promised no bill would be passed until it hand been posted on the internet for 5 days.
This is just another PR stunt. The fact is his policies are failing and soon the roosters will be coming home.
If it works I welcome it!
The GOP thinks they have to point out the hypocrisy of this? Some things are so obvious you don't need the 'experts' or politicians to say a thing.
After eight years of GOP hypocritical spending we have an Democratic administration that thinks Americans can't think for themselves and not see the CONTINUED waste and spending akin to a drunken sailor.
And many Americans are still playing the game of Dem good GOP bad.
WAKE UP its the hypocrisy of BOTH SIDES and they are BOTH as guilty!
Maybe forty years ago one side was for the 'little guy' NOT ANYMORE.
As my fellow low income neighbor and I say 'when those in DC speak we get screwed {AGAIN}
The more things change the more they get MUCH WORSE.
When did people start to have faith in politicians? Maybe the pr campaigns are getting better?
Obama's hatred for the USA comes through almost every day in the things he says repeatedly. Surely by now, most Americans realize that he intends to destroy the USA and all we have stood for all these centuries so he can institute sharia and other muslim practices and laws. What a huge mistake this country has made in electing this man with no background but with a large set of teleprompters.
Are there people who actually have the audacity to say it's a bad idea to spend within your means? All the finger pointing and the "well, you did it first" is a pointless diversion and just another way to argue. Anyone who has ever been serious about getting out of debt puts a moratorium on using credit cards till they can get back on track. Turning to your significant other at that card-cutting moment and saying, "but you bought a new jacket last week!" serves no one moving forward.
Seriously, are we going to bicker until the end of time. Can we call a truce for a minute and work on getting out of this mess. Obama's job is hard enough without being fought tooth and nail the whole way. If he's wrong or if he fails, well then republicans can have a hey day with I-told-you-so's. Give the guy a chance. Sheesh.
Wonder how he'll cut $4trillion from the budget this year....
HAHAHA..this coming from a president who is spending it like he stole it...oh wait, he did.
Kinda stupid for Obama to propose this AFTER he has wracked up $3 Trillion in additional debt in his first 100 days of office....
This is probably how Clinton had a surplus? I do know sometimes you need to spend money to make money, anyone who started a business knows that in order to get capital, you have to borrow money, sometimes you hit what the people want, or you take a hit an file for Bankruptcy.
All in all, if we are going to make anything work, the Party of NO way, should come up with a more productive plan. Oh yeah they did, wow a whole what 16 pages, take from the poor to give to the rich... that did not work that and it will not work now.
Why are we in this financial mess, was it because of the deregulation of the banking industry? No one minding the store. Main street has been hurting for the last 8 years, and wall street is well sipping on Dom Perrin and eating Russian cavier and the crumbs, as Charles Dickens book Oliver Twist... Please sir, can I have some more....
Oh, of course the Republicans would object to this... They inherited a surplus from Clinton and the REPUBLICAN, FISCAL CONSERVATIVES for 6-8 years caused at the time unprecedented deficits. But only after January 20th at 12pm, did all the Republicans in America become 'fiscal conservatives'. In fact, if I remember clearly the Republicans for 8 long years were not outraged at Bush's fiscally irresponsible spending, they were outraged at their fellow Americans who questioned his policies and deemed us 'traitors' and 'unpatriotic'. I say, 'how convenient'.
Keep up the good work Mr. Obama. I agree with your PAYGO policy. As you were...
Nice job after you already dumped 797 Billion.
So tell me Barack how are you going to pay for social medicine.
Where are you going to get that money.
Please do now screw with our medical system.
The last thing we need is a european or canadian system.
I am sure you will be even happier when you wipe out all of research.
Why dont you start Pay as you Go now and cut all the spending and the money that you are promising GM and Chysler. Cut all the waste now. Why wait.
More debt in the first six months of this year than in the previous 220 years? Apparenlty Mr Cantor has a short term memory and forgot about Bush's hand out of 700 billion dollars no questions asked. Once Obama gets billions back in TARP funds from major banks he'll be less then the 700B Bush gave out. And where did Obama's money go? Oh that's right, to infastructure, health care, unemployment benefits and education! You'd think for a second that this President cares about the United States.
regards,
Still glad there's no more Bush in the white house.
What will the GOP say now?
Seriously, how can he stand there and keep a straight face while pushing for this ridiculous legislation after the lottery-winner spending spree he and his minions have embarked upon? He's a fool, as are those that believe a word this man says.
I think that this policy makes a lot of sense. Why do the Republicans trash it, when it is only fiscal responsibility? Can you imagine how different the Bush years would have been if the Republicans actually had to find way to fund all of the money they spent???
Me thinks he speaks with forked tongue.
The guy lies right to your face and people dont hear it or see it.
"Paying for what you spend is basic common sense," Obama said. "Perhaps that's why, here in Washington, it's been so elusive."
He states it but does not believe it.
If he did then he would cut the spending right now.
I'm completely confused. Republicans are balking at PAYGO and complaining that it only comes after "record" deficit spending by Obama.
So where in a "Christian's Dump" were these same Republicans during the Bush-League years when the grand conservative Kubla was running our country into the toilet?
To all our wonderfully concerned Republican leaders: go stick your heads up a Christian bear's ***!
PAYGO promises are OLD NEWS. Why does our suddenly panicking muslim president now decide he must announce this YET AGAIN? Where was PAYGO when he decided to waste trillions of our dollars with no apparent (positive) return. Obama-style hyper-inflation is on its way!
This makes sense, but the Repubs will find some lame excuse to slam it!
I'm tired of Obama blaming EVERYTHING on Bush or anyone else. Obama was a Senator for 2 years, the other two years when he wasn't voting present, he was running for president. But as a Senator, he was part of the body that wrote budgets. Obama will be forever be known as both the teleprompter president and the "It wasn't me" president. Loser. I would have much more respect if he wasn't blaming everything on everyone else, but accepting responsibility only if something turns out good.
Gee – I wonder if PAYGO will be available when you push your trillion $$ nationalized healthcare plan??
My bet – he will erase the IRS tax-codes for non-profits (make those churches pay taxes!) to continue his Euro-Socialism (marginalize religion, maximize taxes & social welfare).
So Mr. President, where is all the Stimulus and Bailout money going to be saved from? Or does that not count because it happened BEFORE your PAYGO laws?
Empty suit is empty.
Ok, Mr. President.....
That is why we love you coz of common sense...
Deficeit don't incurr without spending....
Republicans should know America is moving forward...
You don't incurr school debt without going to school but you rip harvest the 70% who do in the future!
This is ludicrous. If I have ever seen double talk, this is it. "Any tax cut would require a corresponding increase in tax revenue"!!!! Give me a break. We have a joke for a President.
Interesting to see where he gets his trillion for health care if he actually gets this done. Or maybe this is just a tiny bone of false hope he's throwing to those frustrated with his fiscal irresponsibility? Where were his PAYGO concerns when he spent us into oblivion?
That whole herd of horses left the barn and won the triple crown about 100 days ago. Nice of you to think about the door though.
Chinese economics genius laughed at Geithner. I'm laughing now at the Obamessiah.
I didn't vote for him. I'm glad I didn't. Can we get rid of him in four years? Possibly lame duck him sooner?
YES WE CAN!!
Great job Mr. President....congress needs accountability..you have done more in 6 months than the repigs have done in 8 yrs....
GOP will whine....have no solution or ideas...just whine and complain and shrink...shrin...shri..shr..sh.. s....
Republicans are saying that President Obama is spending out of control and it should be stopped because future generations will have to pay for this. The President comes out now and say he wants to implement a Pay As You Go system and the Republicans say why is he wanting this now and he has already spent billions.
Whether you agree with the previous spending or not by the current President or previous Presidents, why would you not want this?
Republicans please hear me clearly on this issue, STOP COMPLAINING ABOUT A PARTICULAR ISSUE AND WHEN A SOLUTION IS GIVEN YOU COMPLAIN ABOUT THE SOLUTION WITHOUT AN ALTERNATIVE TO FIXING THE ORIGINAL PROBLEM.
It's not that most americans hate republicans, we don't like for people to stand in the way of progress. I don't care who finds the correct answer, just find it.
Republicans...record spending...REALLY.. by the Pres. Obama Administration. I am a Republican, but my math is not questionable nor is my memory. The Republicans in Washington allowed Bush to spend, spend, spend, with only a record deficit and pending wars to show for it. Again, some of us young Republicans are going to take the helm from these old, guys because they have tired ideas, that's why Pres. Obama keeps whiping the floor with them. Just when they think they have a victory.....Here comes Pres. Obama with an actual idea.
really? no Repub comments yet? I also didn't hear a peep about the 68 Billion the banks repaid the Fed today.
Funny how fast they are to criticize, lie and distort but, when his plans worked to stabilize banks and wont end up costing taxpayers, they are ghosts in the wind.
Oh this is really funny......does "pay-as-you-go" include printing new money and borrowing from China.
Obama’s rhetoric offers very little substance. This is offical 2012 election speak.
The Republican criticism is right on the nose – and trust me persons of all political stripes are watching and evaluating. What an extraordiny act of hypocrisy to suggest this legislation AFTER the unprecedented amount of money – virtually created out of thin air – that the Democratically controled Congress and the current President has just requested and is in the process of spending.
And please don't tell me it's "the peoples' projects." That isn't the point of this article. The point is where exactly is the money being generated from?
Mr. President, reedeem yourself by making your suggestion retroactive and binding to the moment you assumed office.
Sounds like a sane plan to me...& a history of success.
This is a prime example where the Republican Party could get behind the President on a fiscally responsible idea. Unless the GOP doesn't believe in praising good behavior denouncing the bad...then again, this is the GOP, they will probably just attack Obama personally and call for less spending on the "non-essential" items like Health Care, Education, ya know, the taking care of Americans stuff.
Ironically, they would have a fit if there was less spending on defense. The GOP Protecting America from the Threats on the outside, could care less about taking care of the actual Americans on the inside. Can't have a strong defense if the population is dumb as rocks and can't develop new technology.
Funny how just a few months ago Obama and his democratic cronies couldn't spend the billions fast enough. Finally a little common sense?
It worked in the 90s. No wonder, Republicans and the right wing nuts will be against it. They already said, "deficits don't matter" especially since they will want to spend our taxes on unnecessary war weapons and give huge taxes to their capitalistic oligarchs, (banks, invesment barrons, fortune 500 companies, insurance companies, pharmaceutical comapnies, etc) at the expense of hard working middle and working class Americans. The last eight years proved their Reaganomics, economic "trickle down" philosophy a complete failure!!!!!!!!!!!!!!!!!
"The henhouse must be made stronger": The Fox.
What a cynical, insulting performance – the biggest budget buster in US history calling for fiscal responsibility.
Just the latest song and dance in the continuing dog and pony show called the Obama Administration.
I think this is good but correction for the Republicans this Proposal comes after Bush and Republicans drove our deficit up the Highest in History and Spent like there was no tommorow! RECORD SPENDING HAPPENED DURING THE BUSH/REPUBLICAN YEARS!
Even though the PAYGO is a good idea, right wing snide remarks from people who will be crying wolf for the next 4 years because they think they will convince some people reading their posts to vote Republican next election will begin in 3.....2......1.....
Note: What's your idea? Awwwww, you mean you have none. You had plenty for the last eight years, how'd those work out? Not good you say?
This guy is nuts. Send smore money in six months then we did in over 200 years and now he wants paygo, he must be smoking something other than cigs.
Yet another shining example of why repugnicans are...well repugnant. They carry on and on about dems not being fiscally conservative and how Obama is running up the national debt and deficit. Now that Obama proposes an initiative to address these very issues, they still bark at it. REPUGNANT I SAY...ABSOLUTELY REPUGNANT!!!! The problem with the Repugnant party is inherent. Their agenda, as of late, serves an ever-narrowing, economic demographic; thus, they have no broad appeal. The appeal they have beyond their economic demographic is race-based and even it is historically married to economics.
so..........we are closing the door?? sadly, the horse has already left the barn.................this guy is just as phony as it gets..............what an embarassment
Always thinking, anointed one – make sure you have that cover in place for when you start taxing us to death to pay for the largest expansion of government in American history.
fiscally responsible if you ask me....seems like the republicans would be all for this measure. it works for the states, why not the feds?
It is more than disingenuous for Rep. Cantor to criticize the President's actions on spending, since it was the Republican party that got us into the mess that we are in. The new administration had to step up and save us. Left up to the republicans they would have left the economy to straighten itself, which could have easily led to a depression of global proportions. Who would they have blamed then? The country is lucky to have Obama. Just listening to his speech today on this issue made me feel that the man gets it. Republicans would be well advised to pitch in and help, otherwise they will find themselves further and further out of play and conmpletely forgotten as serious contributors to anything.
For Mr. Cantor to describe the pay as you go rules being; "a tad disingenuous", after the passage of the Obama's Stimulus package is a JOKE !!! First of all, the Stimulus package was emergent to replace monies "embezzled" from the American banking system by fradulent CDO sales of sub-prime mortgage accounts on Wall Street, mis-handled appropriations of funding in Iraq, and an American economy robbed by Ponzi schemes after Mr. Bush and Senator Gramm deregulated banking rules back in 2000. He's just another REFIBLICAN .........
Thats pretty funny. I am sure the press will take that bait hook line and sinker but lets see it put into action. He has been denouncing Bush for years and he has adopted his national security policy. Obama has vindicated Bush security and spending policies and can talk a great game but lets see if his deeds put into action – unlikely.
PAYGO makes sense to me...just don't raise my taxes.
How are we paying for that crazy Pelosi pork bill that they passed in January and falsely called "stimulus?" Can we repeal that bill now please?!
Can we stop spending money please.?!?!
Can we stop promising people free stuff please!
Can we make sure that the bottom 40% of the country pays some federal income tax and the top 10% pay at least 15% federal income tax? Those of us in the middle 50% are sick of carrying all of the burden. MAYBE IT IS TIME TO CONSIDER A 15% FLAT TAX ON ALL SOURCES OF INCOME FOR ALL PEOPLE WITHOUT ANY DEDUCTIONS OR TAX CREDITS.
Its also a tad disingenuous for the party that ran up record debts from 1981 to the present, with a small break in the 1990s, to criticize the President.
As has been said before, the GOP lost any credibility to speak on the issue of fiscal restraint because of their unwillingness to perform even the most elementary oversight of their own spending. Mr. Cantor seems to forget about the trillions in tax cuts that were rammed through in the early part of this decade and later signed into law that produced negligible economic growth at the end of President Bush's 2nd term. The final result of that policy was a failure, so we need to revert back to the policy that lead to a budget surplus.
I just hope it works, but we know the GOP will fight it tooth and nail because it would merely serve to further educate a majority of the population about the gigantic fraud the GOP has perpetrated on the nation when it comes to money: namely, that they know what they are doing. Unfortunately, giving the GOP control over money has only led to the establishment of their favorite credo: No Millionaire Left Behind!
Yeah, if Barry can make this happen and actually live by it, I'll eat my hat on Main Street and give you a half hour to draw a crowd.
He had to spend the money to get us out of this mess, and now he can go back to his original plan to institute paygo. I applaud his efforts! The republicans are just complaining again.
I agree completely, DO IT!
I AGREE WITH THIS STATEMENT:
"It seems a tad disingenuous for the president and Speaker (Nancy) Pelosi to talk about PAYGO rules after ramming trillions in spending
through Congress proposing policies that create more debt in the first six months of this year than in the previous 220 years combined," said Rep. Eric Cantor of Virginia, the House Minority Whip.
Shame on you "Obama"!!!!!!
PAYGO created fiscal restraint that resulted in budget control and eventually surpluses during the last years of the Clinton Administration. Unfortunately, the Bush tax cuts and the wars in Iraq and Afganistan could not be accomplished under the rules so the Congress and Administation abandoned them. The rules also would have required a payment methodology for the Medicare prescription drug program. These actions created a great deal of the fiscal mess we are in today. Eric Cantor should look in the mirror if he wants to see someone with a disingenuous message in this debate.
This guy has no idea what he is talking about. I think we should pay his salary on PAYGO basis depending on his performance. I wonder whether he will get anything from it. He should put his house in order. Democrats are experiemnting their livberal agenda and then we American people are suffering.
There's not much more to cut from defense and intelligence, and social programs like welfare, though bleeding us dry, won't be touched. The government needs to generate funds to balance the spending. And how does a government do this? By raising taxes. Obama will begin revisiting the concept of our "shared responsibility" soon, pushing us all to "have skin in the game", etc...
Now let's watch the so-called fiscal conservative republicans complain about PAYGO since Obama is pushing it.
Republicans don't care about our country, they just care about regaining power.
OK, save me the home spun wisdom as we sit at back and watched his fiscally irresponsible out of control spending. Can someone who supports Obama explain this. Once again, he lectures us on ideals he does not act out, the rules apply to all but him, and he believes we will suspend reality as he tells us right from wrong.
Save me the flowery scolding speech , trite story and age old wisdom.
We are a people who are starting to see common sense make a comeback, but I am sorry Mr president, you cant be all things to all people when your actions and programs run so counter to what makes sense.
Get ready folks, next month he will tell you how Health Care must be completly nationalized and a huge Govt beuracracy is the only way to save our economy and save health care..
Then he will again tell you we will all die if we dont impose a tax on our industry CO2 emmision.
The man is a living crisis managment center, and the thing that really gets me is that he offers so many false choices. NO ONE says do nothing, no one says dont spend where needed, yet he sets up straw men in defense of all his flawed reckless policies by saying, "most experts agree that if we did nothing, the problem would get worse"
Party of no! You bet, No more jobs lost, no more money ill spent, being against wrong ideas does not mean you advocate doing nothing, you just have a different idea of what the right thing to do is.
??? You mean the government would only spend money that they have?!?! HAVE YOU GONE MAD?!?!
That idea is too close to being right for the United States government... 
(now THAT is sarcasm, I challenge you to do better)
No, seriously, go for it, MAKE IT HAPPEN
Does the GOP have to complain about everything? First, its about 'all the spending' in the stimulus package (though it is required to help economic recovery). And then they complain when the President suggests to be fiscally sound?!? Can't you at least encourage this instead of deride it? You can't have it both ways GOP! Quit yuh whining!
Wow, even Mr Obama's attempt to woo republicans with pay as you go rules is rebuffed. One would think the GOP would jump at the opportunity to use common sense and work towards balancing the budget.
Unfortunately the GOP is too blinded by partisan hate of president Obama to think clearly.
The washington republicans are laughable
Too bad.............
I agree with Obama but telling congress that paygo was common sense and that's why it's been elusive is a bit harsh. True mind you but harsh none the less. And for all the republicans who are criticizing him because he had to pass huge spending bills well you can thank you fellow republican, Bush, for that. These spending bills were a direct result of the incompetence of 8 years of Bush. So look in the mirror Mr. Cantor before you start pointing fingers.
God bless Obama!
Obama signs bills authorizing billions in wasteful spending and now he talks about fiscal responsibility. This guy is a joke.
Considering that the entire Obama plan is based on ignoring PAYGO, this seems hypocritical...wait...it's Obamaspeak. He means paygo for everyone but Obama.
Then again, if paygo becomes law, can we put Obama and Pelosi in jail?
Now he wants to go to the paygo system after he spends over a trillion dollars. Where is the balance in that?. Oh I forgot, do as I say not as I do. He must really think that picture he saw in Egypt was of him. Oh well, that is what you get when the only job he has ever had was a community organizer. Obama could'nt run a conveniance store!!!
Wow, how do you like this guy? First he spends all of the money, and now he wants us to pay as we go. With what? Well perhaps he had to spend the money because of the mess Bush left him with.
I love it! Good job Mr. President.
Mr Obama's attempt to woo republicans with pay as you go rules is rebuffed. One would think the GOP would jump at the opportunity to use common sense and work towards balancing the budget.
Oh but I forget, the GOP want
NO, NO, NO
I don't care if it's a GREAT idea...just NO. It makes sense...but NO! I'm tired of saying yes to things that are good ideas. I am a TRUE pessimist with a desire to see our country fail. so...NO to ALL things that are GOOD! If it sounds good, I want to ridicule it and say "NO"...because I'm a TRUE republican! I don't take lightly to working with others. I hate ALL people. I hate my country. I hate people of every race. NO, let's not do things for them that make sense! Let's do it the republican way, and NOT do anything other then complain!
NO, NO, NO
Where was Rep. Cantor when Bush was spending ( or geting authorization from Congress to Spend) the same amount, I did not hear from him then. It is the Bush Administration and thier disaterous policies that forced the current administration to have to put together a stimulus plan. Now the details of the stilumus plan can be debated, but the need of the stimulus plan can not. If wee are going to hold this admin feet to the fire, let's at least recognized the policies that led us here. Both parties are to blame and the sooner we can all agree to that, then WE can agree to fix this.
Yes, I can see how this will be implemented already. As the war in Iraq winds to an end, the billions being spent there in excess of revenue, will be shifted to some social program. In addition further savings can be achieved with a military drawdown reducing the number of military personnel by 10%. These savings can be used to provide unemployment benefits for the thousands of unemployed veterans, and military contractors. 1.5 million will be cut from a education voucher program that subsidized the education of minority students in private schools, so that the government can pay twice that much to educate the same children in the public schools.
Whenever the government spends money it never works out quite right. Kind of like the income tax return that is spent seven different ways before it even makes it to your bank account.
If my memory serves me correctly, Clinton and a Republican congress implemented this and it worked real well. I recall that it was a congress of Republicans for the first time in 40 years of Democrat burecracy, similar to what we are looking at right now.
Cantor has it right, Obama's own budget outlook for the next ten years proposes 10 TRILLION more debt. He makes Bill Clinton look like an amateur when it comes to misleading the public with wordsmithing and "focus group" tested statements that have nothing to do with reality.
For about the MILLIONTH time, REPUBLICANS caused the mess we are in. Why cant they just admit that it was their fault and that tax cuts aren't going to fix anything.
"Conservatives" should embrace the idea, instead of complaining.
Fine, Mr. President, you pay, we'll go.
Better yet, cut the government by about 40-60% and cut all of our taxes at the same time.
Neer happen though. You're too addicted to power and our money.
good. lets start with rolling the tax cuts for the rich in order to save money. they don't need the tax and close the tax loop holes for coporations.
I know the Libs and Obama Worshippers are going to blast anything the republicans say here, but if you think about it this time they're right. I know next you will say well look at all the spending Bush did, what about that? To which I will respond- so now you are saying that Obama is like Bush? Anyway, starting PAYGO after you have spent all that this administration has spent is like trying to become a virgin again, or deciding to start a retirement savings at 64.
Well, Republicans, at least he MADE the proposal. All you did under Bush was spend, spend, spend, with no taxes to back it up, and no decrease in other areas to offset the military budget overspending. So now we have someone who says you have to pay as you go, and you still aren't happy. I think we'll stop worrying about what Republicans think (the worst about everything) and say (the opposite of what Dems try to say.) Now I suppose the right will find a way to turn THIS proposal into some kind of sneaky attack on Americans. I'm sure it must undermine our security somehow to live with a balanced budget. Rush just hasn't sent the memo out yet.
"It seems a tad disingenuous for the president and Speaker (Nancy) Pelosi to talk about PAYGO rules after ramming trillions in spending
through Congress proposing policies that create more debt in the first six months of this year than in the previous 220 years combined,"
said Rep. Eric Cantor of Virginia, the House Minority Whip.
Republicans are deliberately ignoring the fact that the national debt increased by 5 trillion in the Bush years. It was 5 trillion when Bush entered office, and it ended up over 10 trillion when he left. It will take a couple more years at the same pace of spending before Obama can match the debt created in the Bush years. Yet the Republicans keep on repeating the line that Obama has created more debt in 6 months than the previous 220 years combined. It is really simple, folks. The total national debt of the previous 220 years is over 10 trillion. The projected deficit for Obama's first year is 1.8 trillion. Is 1.8 trillion greater than 10 trillion? No wonder the Republicans are not good with economy. They are not good with numbers.
The stimulus program was needed to provide relief to the middle class and lower income Americans, something that eludes the Repubs. They will have a difficult time selling their criticism of Obama over this because this is what people want. He has taken the wind out of sails of their "fiscally responsible" argument. While some in their party like to say Obama has already failed, it's obvious they are plumping up their resumes for a run in 2012 because Obama has only been in office four months. He has barely begun to undertake the massive course change that is needed to put this country back on track and to make such pronouncements at this time only reveals self-interest and lack of foresight on the part of Reubs. I think they will discover that Obama is more of a force to be reckoned with than they thought and they'll need more than fear mongering to appeal to voters.
THAT'S fiscal responsibility & discipline. Thank you, Mr. President!
Of course, Rep. Cantor took this as another chance to inject his same ol' GOP nonsense, even on an issue where they should agree going forward.
It's sad, but I don't believe Republicans on fiscal responsibility anyway, especially after the last 8 years. In contrast, I TRUST President Obama.
Cantor has no room to complain/whine...republican leadership landed us in this disaster, so any advice coming from him on fiscal responsibility is pretty laughable.
As many continue to ask, to no avail, where was the GOP for eight years during Bush, and their, spending spree? Oh, that's right. Because a Democrat is president now, they want to be the party of 'fiscal responsibility.'
Well, President Obama's right – common sense is needed, thus the need for PAYGO. Seems like a no-brainer to me. However, the GOP will continue to whine, pout, and cry "NO!"
Oh stop the presses the mighty won is finally thinking about how we are going to pay for things...
Where are we going to cut? You just can't save enough in order to spend like this congress! Especially in the age of entitlement. Unless you cut it all from old rich white guys, but wait then you have double digit unemployment. I know, cut... well no I don't know, you have to get re-elected.
Obama is right. The Republicans need to start taking responsibility and actually work to help, instead of working to obstruct. Enough is enough of that Republicans. No more. You either start to do your jobs, or you'll be fired.
Pay as you go system would work great if the fine print didn't give obama 10 years if this man get's 25 percent of his programs going
the government will take 50 percent of our wages to pay for this and then what will be the middle class living standard then !!!!!
There would not be a $787 billion dollar stimulus package if the GOP had not placed us in the situation.
I can't imagine why a "conservative" would be opposed to forcing the government to spend within its means. Just because Obama proposed a huge budget doesn't mean that Congress can't take the PAYGO option (please, please, please) and approve a budget that is different than what the President proposed. As usual, an idea is only worthwhile if your own party proposes it. Any chance we can also get term limits in with PAYGO, too?
PayGo in other words increase in taxes people. We all knew that was coming. How else is Obama going to pay off the billions and trillions he is running up.
a good start. I see the GOP is already criticizing it. There really is no pleasing that group. Let us get 60+ democrats in the senate by 2010.
Make pay-as-you-go law? Why Obama? So you can be a criminal? Sorry, campaigner-in-chief, blue dogs and independents will know hypocrisy when theuy see it. You're sacrificing yourself a majority.
Whay are all those "fiscal conservatives" already screaming foul???
Oh, where are the true CONservatives now??? They only time they care about spending is when..........they're not the ones doing it.
This is a laudable idea but will the GnOP go along? Of course, they will bloviate like cows in the meadows, rushing to any microphones to recite their talking points. For once, let us hear them say "Yes, Mr. President that it is a fantastic idea". After their orgy of borrowing and spending, they want to claim the high ground but we will not be fooled.
Geez, these people make me want to puke.
Yes, he should not be cleaning Bushes and clonies mess, he will have his own banden!
I agree, the Pay-As-You-Go plan for the Federal Government makes common sense. The federal government shouldn't be over-spending when it's not necessary. There's so much waste in the Federal government, if we cut out the waste we could pay off the Trillion dollar deficit.
Everyone crys the blues about a lot of BS, but when it comes to putting up when it counts, then everyone becomes deaf, dumb and blind.
America better wake up and start smelling the coffee. If we are to be independent of China, then we better start cutting WASTE, WASTE, WASTE and just stop "talking and making" excuses.
We are the most materialistic country in the world, tightening our belts is not going to kill us.
Cantor is a serious loser. He (and his GOP counterparts) should be replaced.
This equals TAX INCREASES for you and me !
Good for President Obama. He will be criticized by the Obama haters, but they are the ones that were criticizing him for over spending. Ignore them– they would criticize no matter what.
Pay as you go is the right thing to do for our country. Uncontrolled spending is a bigger risk than any other risk we face. China won't have to declare war on us if they own us.
The Republicans are frantic about this because it might actually work and balance the budget. What, then, would they have to run on in 2012 or 2016? Take away the persistent bleating about how much money Obama spent in his first 100 days, and the GOP has nothing. They have already revealed themselves as nothing more than whiny, spoiled, arrogant, idiotic little sheep. Losing their only argument about why they should be in power next election leaves them shorn and shivering.
Hey, I agree 100% that we shouldn't spend money we don't have, but why would you spend us into FOUR TIMES the debt that deadbeat Bush did and THEN say that we should limit ourselves to pay as we go?? The horse has left the barn and run into the next county! A little late, Barry.
Ha, ha, you see Republicans aren't really against spending, they are just against spending on domestic programs.
Ask them to spend trillions on war and the rich elite, and they have no problem, but when it comes to fixing schools and our broken economy they act cheap all of a sudden!
The PAYGO proposal is a brilliant one by Obama. Some will recall he promised it during his campaign. It is a direct challenge to Republicans to prove all this talk about spending isn't just hot air.
The Republicans can't complain since they let their guy hide all of the spending in Iraq knowing that he had no intention of paying for it. He just pushed in on to the next guy...so they can now complain about the deficit. I applaud the president for his efforts to get us out of a bunch of messes and then to instill some common sense fiscal practices (something that has been sorely missing since the Clinton era).
na- lets keep putting un-born americans in debt so we can continue to eat at McD's and watch our american idol, and live beyond our means until the dollar collapses.
democrat/republican regime is distroying us with the same divide and conquer techniques as THE PAST 30YRS IN THIS "DEMOCRACY"
wake up- be an AMERICAN- vote all the incumbents out and STOP BEING DIVIDED INTO GROUPS- we are individuals, demand your individual rights be upheld- no matter who is in "power"
This financial disaster started in the last 6 months of President Bush's term and he sat on his hands and did absolutely nothing as the train left the track. He had more responsibility than just ringing the bell and except for continuing Reagen's and his father's deficiet spending for his war of choice, he did nothing.
Where were all of these financially conservative Republicans for the past 7 years? And don't use that "he kept us safe for 7-1/2 years". Another flip-flop, he kept us safe after he didn't keep us safe by not listening to the expert who tried to tell him that there was a problem as late as the week before 9/11. When you know it all, you don't have to listen to people who actually know something.
People george bush gave out 350 billion and obama gave out the other 350 billion. get your head out of your butt. obama is borrowing the money from china 787 billion.
REALLY?????
His own federal spending thus far, MULTIPLE TRILLIONS OF DOLLARS, has been DEBT financed thru foreign nations...
and now that our debt scares the world, the Federal Reserve prints money to buy the Treasury bonds that no other country will buy
furthermore, Obama has USURPED the RULE OF SECURED CREDITOR LAW IN BANKRUPTCY with auto companies
America exists on Immigrants. America will collapse without Immigrants. No other Country in the World depends on Immigrants like America.We must learn to be Self-Dependant, not Piggy-Backing on Immigrants. We need to move our Asses, and Start Working.
Jimmy, Bill now Obama using smoke and mirrors
This kind of responsibility in government should be set in stone to keep the Gop's of the future from manipulating the law in order to line their pockets. Strict oversight of wallstreet, big business,and our many Government entities is a must to get out of debt. Trickle down economics never worked and will never work , so lets do our best to keep the GOP out of power for the better of our Great Country
Since trillions have already been approved in the first 4 months of this administration, this will have more of an impact on the 2010 Republican congress and the 2012 Republican administration.
I pray to God that some of you wingnuts who post on here aren't as dense as I suspect. When a country goes into debt the only way out is to stimulate the economy. You can't stimulate the economy without a demand for a supply. If no has any money to have a demand, then the government is the spender of last resort. This wasn't necessary when Bush took office, because we had a surplus and what did he do with it? He squandered it on a useless war and contractors we are stuck with because Bush and Cheney eliminated the government agencies that did the work the contractors are now doing to 4 times as much or more.
In case anyone wants to know, Nixon started relations with China and Clinton worked along with HW Bush to get China Most Favored Nations status with the UN so they can trade, even though they are a Communist country. This was NIXON'S idea.
Most of you really think that the economic mess we are in is all because of the conservative party? Come on, it is not (and hardly ever is) that simple. I am not saying the previous administration didn't make (many) mistakes, but to throw blame around so flipantly and aggressively is part of the problem, not the solution.
go for it Mr President.
Maybe this clown should have thought of this before he spent 1trillion in a month. I guess a grown up finally grabed this child by his big ears and said listen you fool, we are going to get cleaned up in 2010 and 2012. He then turned to the teleprompter to ask what to do.
The Republicans concede intellectual leadership on yet another key issue which should be core to their political philosophy. Remind me again why I should be a Republican?
Can you Democrats come up with anything besides blame the last Administration...It is time for you take some responsibility, I am not saying all but at least acknowledge some.... It seems is that is your only defense!!!!!
War, War just remember the Dems. voted for it also.
Without actually reducing the budget or increasing taxes this means NOTHING! In the real world PAY AS YOU GO means not spending money you don’t have. In Obama’s world it is not spending more than you agreed to borrow. The end result is that this will help him stay on target to add an extra +1.2 trillion to our debt this year.
Cantor's ticked that Obama gets to have his cake and eat it too ... a gajillion dollar budget, slowing down job loss AND fiscal responsibility? Whaaa? I know its unfathomable for Republi-cants
Whats the matter Obama, finding out that people are pissed that you have spent trillions of our tax payer money on wasted stimulus.
Oh please, Obama is changing his tune now that he has added at least another trillion worth of debt since his inauguration and his policy polls are dropping like a lead weight.. Fiscal responsibility is a repub belief. Dems want it all and worry about the debt later. Maybe the media shouldn't confuse the people posting only his popularity polls. I know many intelligent people who bought into his speaches, voted for him and now say they are sorry they did. Hopefully, all the sheep will get educated!
"disingenuous"?!? Now that's some classic irony!
Why didn't he practice this approach when he was wasting trillions of my tax dollars. How does he plan to pay for that? economics 101= blow my tax dollars, print more,tax me some more. He's a little late with this idea.
PAYGO sounds good to me. Make all of those who have been receiving the free ride of welfare all of their lives PAY for these services. The taxpaying citizens of this country need to have a personal return for the taxes they pay.
The US Budget Deficit or Surplus in effect at the end of the term of the then current President in office in the billions:
JFK-7
Johnson -18
Nixon +19
Nixon/Ford -19
Ford -68
Carter 0
Reagan -81
GHW Bush -135
Clinton +526
GW Bush -632
These figures do not include the amount spent on the wars we were in at the time.
Remember, to get the correct figures, one has to look at the preceding president and do the math for the correct overall figures.
Could have used this rule 5 months ago!!!!!!!!!!!!!!!!!!!!!!!!! This guy is economically illeterate.
Here comes the BIG tax raise to further chairman Obamas socialism.
You people are never happy. He should do whatever the hell he likes.
I like the idea of paygo. Lets do it. While we are at it, let's start a war tax. Why should future generations pay for a stupid war Bush and Co created, congress went along with and We allowed to happen? This tax would go into effect whenever we are at war or have war debt to pay down. Might keep us interested in who we are killing and why.
This is the same man that said Bush's spending tactics were Reckless and then went out and spent more money or allocated more money (that we dont have) in the first 90 days than Bush spent in 8 yrs. Obama just flat out lies and is a Huge Hypocrites that still bashes Bush and The blind Sheep still believe him.......Democrats are the lowest of the low and the Republicans in this country will treat and respect Obama the same way you treated and respected President Bush for the last 8 yrs. Isnt Karma beautiful....
I like Obama, but we don't need these silly conservative schemes to straight-jacket our fiscal policy. Look what happened to California. Paygo is idiotic.
Obama has spent this country into the disaster United States and then he says this. HYPOCRITE!!!!!!
PayGo... after you spend $787 billion? Is that the plan?
O.K.... Bush spent too much. We all know how Libs feel about Bush. How is this better? Obama is spending more than Bush in the first 100 days. That should be bad.
You might argue Obama is spending the money differently, but you cannot spend money you do not have and expect to get ahead.
When you are broke, spending more makes no sense. See California and Illinois as examples.
He should have made this a law BEFORE he spent our children into oblivion with all his bailouts and other mindless spending. Just hush and get busy governing–not spending!
It is time for the Democratic party to stand up and take responsibility, The blame game is getting so old and childish. I agree Obama inherited alot but Obama has created ALOT more !!!! He is a great speaker but seems clueless to solve any issue....Look at the real situation. It would be nice to have him actually stay at the white house for more than a day and FOCUS at the issues at hand instead of trying to apologize and make nicy nice with other countries that are laughing at us..
He's proposing the Herbert Hoover option. If he really does this, it will make the Great Depression look like a picnic. Doesn't anyone get it? We need bigger deficits now, not smaller.
As much as I am in favor of eliminating the national debt, I am also aware that there are proper times to increase spending and run a deficit. Just like for consumers there is good debt for governement spending and there is bad debt for government spending.
And think of it this way. If paygo was law and somewhere down the road government spending is decreased dramatically how will that spending ever increase? Maybe spending gets cut to 1/10th of what it is now but there's another world war that requires a rediculous increase in the defense budget. How will we cut spending that is no longer there to justify increased spending?
after reading these posts for some significant amount of time, one thing is glaringly clear.
the republicans are profoundly adept at name calling and sensationalizing.
they are NOT good at coming up with solutions or collaborating with the democrats.
based only on these observations, it seems unfortunately apparent that if/when a solution comes, it's going to be coming from the democrats. it'd be nice if it was a joint venture.
FYI
The information that I posted prior were only through 2007. 2008 and this year are not a part of the equation.
Yes Pay as you Go from the man who racked up 1.3 trillion dollars on something no one read but someone wrote.
Obama is the classic do as I say not as I do politician.
Wheres the Change?
After eight years of unbalanced budgets and uncontrolled spending we have elected a man that has proposed eight more years of even more spending and double the budget deficits.
Change we can believe in?
BY ALL MEANS CLOSE THE GATE after all the cattle have left the pen. I'm sure the MSM will pick it up in the evening news, DIMRATS will swoon with Opy's brilliance and integrity and sleep well knowing their country is in good hands.
No one believes this guy when he says PAYGO! He puts 3 trillions debts within only 4 months in office. Is it a joke?
For all of you who have their panties in a bunch because of the stimulas package, just give it back. Put it towards your estimates if it is that bothersome to you.
And for all of you who think they "know" what is going to happen. Please let me know what the winning lotto numbers are, I could use it.
I AM A SOCIALIST: (lets see, Social Security, Medicaid, Medicare, SSI, do you see where I'm going with this?)
REPUBLICANS = PURVEYORS OF IGNORANCE AND FEAR
Has anyone looked to see what kind of ridiculous riders or attached bills this PAYGO Act has incorporated???
With something *this* common sense, there's going to be a "GOTCHA!!!" somewhere...
Pay go next he will try to feed the world with two eggs.