Barack Obama has spent more than all other presidents combined and he has only been in office for six months. Obama has tripled the deficit and by 2014 his budget is set to double the national debt which is currently over eleven trillion dollars. Now he has decided that he should become fiscally responsible. Now?! The President wants to implement a program known as Pay As You Go or Paygo which was first introduced by President Bill Clinton. Basically for every dollar that the government spends, Paygo requires that they save a dollar somewhere else.
Now we know that the government has no plans to cut any programs. Thus, the government is going to need to raise money and the only way that the government obtains money is through us so we can expect our taxes to go up. Also, keep in mind that not only has President Obama already wasted money on the Porkulus Bill and the Omnibus Bill, but he has made big down payments on universal healthcare which he plans to roll out by summer’s end. How exactly will he be paying for that healthcare? If Obama follows Paygo, then he will have to make big cuts somewhere else and we know that is not going to happen.
The President also did not mention that not only is this idea of his not new since Clinton used the same tactic, but this is something that he initally proposed in his budget. The Paygo in his budget had tougher standards. Fox News has noted, “That version would have required, on average, all affected legislation to be paid for in the very first year. The new plan only requires such legislation to be financed over the coming decade. That mirrors congressional rules and reflects the likelihood that health care reform will add to the deficit in the early years.”
In a moment of complete irony the President claimed, “Entitlement increases and tax cuts need to be paid for. They’re not free, and borrowing to finance them is not a sustainable long-term policy.” Did he just wake up and realize this truth yesterday? Representative Eric Cantor echoed my sentiments of the past couple months when he said, “It’s as if the administration and these Democrat leaders are living in an alternate universe. The quickest way to save money is to stop recklessly spending it.”
The definiton of disingenuous: Barack Obama.