red states rule
06-10-2009, 05:11 AM
What the hell happened to "PayGo"??
He was just on television yesterday telling us about that - or is "You pay as I go - so fork it over"!
Oh his version of Paygp is like his "saved jobs" BS - He can spend us into oblivion if he can show where he "saved" money. Yet his supporters will buy all this crap and go along with the total destruction of the US economy out of party loyality
Obama: It's OK to borrow to pay for health care
Obama-proposed budget rules allow deficits to swell to pay for health care plan
WASHINGTON (AP) -- President Barack Obama on Tuesday proposed budget rules that would allow Congress to borrow tens of billions of dollars and put the nation deeper in debt to jump-start the administration's emerging health care overhaul.
The "pay-as-you-go" budget formula plan is significantly weaker than a proposal Obama issued with little fanfare last month.
It would carve out about $2.5 trillion worth of exemptions for Obama's priorities over the next decade. His health care reform plan also would get a green light to run big deficits in its early years. But over a decade, Congress would have to come up with money to cover those early year deficits.
Obama's latest proposal for addressing deficits urges Congress to pass a law requiring lawmakers to pay for new spending programs and tax cuts without further adding to exploding deficits projected to total about $10 trillion over the next decade.
If new spending or tax reductions are not offset, there would be automatic cuts in so-called mandatory programs -- although Social Security payments and the Medicaid health care program for poor and disabled would be exempt and cuts to Medicare would be sharply limited.
"The 'pay-as-you-go' rule is very simple," Obama said. "Congress can only spend a dollar if it saves a dollar elsewhere."
http://finance.yahoo.com/news/Obama-Its-OK-to-borrow-to-pay-apf-15483626.html?.v=13
He was just on television yesterday telling us about that - or is "You pay as I go - so fork it over"!
Oh his version of Paygp is like his "saved jobs" BS - He can spend us into oblivion if he can show where he "saved" money. Yet his supporters will buy all this crap and go along with the total destruction of the US economy out of party loyality
Obama: It's OK to borrow to pay for health care
Obama-proposed budget rules allow deficits to swell to pay for health care plan
WASHINGTON (AP) -- President Barack Obama on Tuesday proposed budget rules that would allow Congress to borrow tens of billions of dollars and put the nation deeper in debt to jump-start the administration's emerging health care overhaul.
The "pay-as-you-go" budget formula plan is significantly weaker than a proposal Obama issued with little fanfare last month.
It would carve out about $2.5 trillion worth of exemptions for Obama's priorities over the next decade. His health care reform plan also would get a green light to run big deficits in its early years. But over a decade, Congress would have to come up with money to cover those early year deficits.
Obama's latest proposal for addressing deficits urges Congress to pass a law requiring lawmakers to pay for new spending programs and tax cuts without further adding to exploding deficits projected to total about $10 trillion over the next decade.
If new spending or tax reductions are not offset, there would be automatic cuts in so-called mandatory programs -- although Social Security payments and the Medicaid health care program for poor and disabled would be exempt and cuts to Medicare would be sharply limited.
"The 'pay-as-you-go' rule is very simple," Obama said. "Congress can only spend a dollar if it saves a dollar elsewhere."
http://finance.yahoo.com/news/Obama-Its-OK-to-borrow-to-pay-apf-15483626.html?.v=13