Worth Noting

The "Pay-Go" Farce

July 23, 2009

Here's an interesting read—The Democratic Pay-Go Legislation: A Facade of Fiscal Responsibility (PDF download) from the Republican Caucus Committee on the Budget. This Democratic "Pay-Go" bill rewrites the statutory pay-as-you-go system that expired in 2002. Republicans have done a nice job pointing out some of the devastating flaws in the "Pay-Go" bill. As this review explains, the proposal exempts more than 160 spending programs like Medicaid, the stimulus package and any possible future health care program. Are loopholes as big as the Grand Canyon really the way to fiscal discipline?

Congressional Democrats are bypassing the Budget Committee and pushing this measure through Congress without much debate or revision.

Fortunately not all Democrats are going along with the farce. Even the Senate Budget Committee Chairman Kent Conrad (D-SD) admits that he is "... absolutely not interested in something that waives $4 trillion in costs in exchange for statutory pay-go."

For more objections check out House Dems Not Winning Over Critics with Pay-As-You-Go Bill, by The Hill's Walter Alarkon. Also check out the Republican House Minority Leader's statement.

Related Note

Placeholder note
December 21, 2017 |
Worth Noting
The distribution tables from the Joint Committee on Taxation (JCT) for the tax reform bill passed by Congress give the lie to Democratic claims that the legislation is a big tax cut for the 1% and the shaft for the middle class. According to my for...
Placeholder note
November 02, 2017 |
Worth Noting
...
Placeholder note
October 12, 2017 |
Worth Noting
From The Lindsey Group - Tax Reform and the Swamp: The Empire Strikes Back Last Thursday, recently confirmed CEA Chair Kevin Hassett (a TLG alum) gave a speech at the Tax Policy Center (TPC). The speech highlighted a number of significant discrepanci...
E48e14a47cf3a760225450b52a434c2d
October 02, 2017 |
Worth Noting
Brian Balogh sits down with Republican political strategist Karl Rove to talk about his book, “The Triumph of William McKinley: Why the Election of 1896 Still Matters.” They also discuss Rove’s former boss President George W. Bush, the election of 2016, a...
Button karlsbooks
Button readinglist
Button nextapperance