Thursday, June 11, 2009
Barack Obama - BAM'S Double Talk
This media source is on to this con job...
And here, PAYGO is exposed for the farce it is...
I found this in a N.Y. Post opinion column:
"'The 'pay as you go' rule is very simple,' said the president. 'Congress can only spend a dollar if it saves a dollar elsewhere.'
Added Obama: 'Paying for what you spend is basic common sense. Perhaps that's why, here in Washington, it's been so elusive.'
Now that's rich.
After all, the man championing this newfound fiscal austerity is already running a $1.8 trillion deficit this year.
That includes the $787 billion stimulus package, plus various corporate bailouts and other spending.
In addition, Congress is pushing ahead this week with a variety of ways to fund Obama's massively priced health-care dreams -- starting with a hefty $635 billion 'down payment.'"
And here, PAYGO is exposed for the farce it is...
from the Wall Street Journal:
"Some things in politics you can't make up, such as President Obama's re-re-endorsement Tuesday of 'pay-as-you-go' budgeting. 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 health-care spending expansion still to come, this latest vow of fiscal chastity is like Donald Trump denouncing self-promotion.
Check that. Even The Donald would find this one too much to sell.
But Mr. Obama must think the press and public are dumb enough to buy it, because there he was Tuesday re-selling the same 'paygo' promises that Democrats roll out every election. Paygo is 'very simple,' the President claimed. 'Congress can only spend a dollar if it saves a dollar elsewhere.'
That's what Democrats also promised in 2006, with Nancy Pelosi vowing that 'the first thing' House Democrats would do if they took Congress was reimpose paygo rules that 'Republicans had let lapse.' By 2008, Speaker Pelosi had let those rules lapse no fewer than 12 times, to make way for $400 billion in deficit spending. Mr. Obama repeated the paygo pledge during his 2008 campaign, and instead we have witnessed the greatest peacetime spending binge in U.S. history. As a share of GDP, spending will hit an astonishing 28.5% in fiscal 2009, with the deficit hitting 13% and projected to stay at 4% to 5% for years to come.
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"
