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Thread: Obama proposes making 'pay-as-you-go' the law

  1. #21
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    Re: Obama proposes making 'pay-as-you-go' the law

    sounds to me like the rest of the world is saying, we are not really interested in buying any more debt from you.

    America is bankrupt, you need to start spending what you have, not what you borrow

    day late and $1,000,000,000,000 short

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    Quote Originally Posted by jallman View Post
    How the hell did you just tie in a retroactive reparative measure with a proactive preventative measure. Not even close to being the same thing.

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    Re: Obama proposes making 'pay-as-you-go' the law

    I guess you mean spend the money while it's still worth something.

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    Re: Obama proposes making 'pay-as-you-go' the law

    Quote Originally Posted by Oftencold View Post
    This is analogous to having the Roman Empress Messalina announcing that she was a proponent of chastity and marital fidelity.
    Or, Al Gore telling people he is planting trees to offset his very large carbon footprint.

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    Re: Obama proposes making 'pay-as-you-go' the law

    Quote Originally Posted by TheHat View Post
    Or, Al Gore telling people he is planting trees to offset his very large carbon footprint.
    ...or Bill Clinton reaffirming his wedding vows with Hillary.

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    Re: Obama proposes making 'pay-as-you-go' the law

    It's completely hypocritical, and embarrasingly absurd. It's funny, when I first heard about the economic crisis that was brewing last October or so I recall thinking that there would be a ridiculous flurry of activity to try and correct it, as we're a culture of "now" not "wait and see".
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    Re: Obama proposes making 'pay-as-you-go' the law

    Quote Originally Posted by Catman View Post
    I would say that if Obama didn't "kick start" the economy, GM may have gone bankrupt. Oh it did?
    Aaah, but that's not a very realistic viewpoint, now is it? We still won't really know for a while if what he did actually did help any or no and even assuming that it did, that still does not exclude that individual businesses would go under while others would survive. Your view seems to be that if any single business goes down, then the plan has failed. What should be observed, IMHO, would be the general state and trend of the economy to judge if the plan failed.
    ...we honor leaders for what they achieve, but we often prefer to close our eyes to the way they achieve it...

    In the real world, politics is compromise and democracy is politics. Anyone who would be a statesman has to be a successful politician first. Also, a leader has to deal with people and nations as they are, not as they should be. As a result, the qualities required for leadership are not necessary those that we would want our children to emulate - unless we wanted them to be leaders.

  7. #27
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    Re: Obama proposes making 'pay-as-you-go' the law

    I think it's a great idea. The problem with this proposal is that it has massive loopholes.

    "The pay-as-you-go rule is very simple. Congress can only spend a dollar if it saves a dollar elsewhere," Obama said at a White House ceremony, backed by more than a dozen lawmakers, including House Majority Leader Steny H. Hoyer (D-Md.), who said he would introduce the plan as legislation next week. "It is no coincidence that this rule was in place when we moved from record deficits to record surpluses in the 1990s -- and that when this rule was abandoned, we returned to record deficits that doubled the national debt."

    One big difference between Obama's proposal and the Clinton-era rules, however, is that Obama would exempt an array of expensive policies currently in effect. For example, lawmakers could extend the tax cuts enacted during the Bush administration past their 2010 expiration date, restrain the growth of the alternative-minimum tax and continue to forestall scheduled payment cuts for Medicare physicians without consequence. All told, those policies would increase annual budget deficits by more than $3.5 trillion over the next decade.

    Some independent analysts who support PAYGO rules objected to the loophole. "This is like quitting drinking, but making an exception for beer and hard liquor," said Maya MacGuineas, president of the bipartisan Committee for a Responsible Federal Budget.

    And while the proposal found favor in the House, it faced serious obstacles in the Senate, where several key senators said they would oppose it.

    "I'm not for waiving PAYGO for $3.5 trillion of items, much of which I think ought to be paid for," said Senate Budget Committee chairman Kent Conrad (D-N.D.). "I don't think at this point we can afford not to pay for those very large expenditures."
    washingtonpost.com

    So long as those loopholes remain, this is just a joke. Obama has actually had a decent track record so far of putting things on-budget, so let's hope he follows through in the same way here.
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  8. #28
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    Re: Obama proposes making 'pay-as-you-go' the law

    The reason he's doing this is because Ben Bernanke's been talking about how the US needs to get its fiscal house in order. Of course, Bernanke's an even bigger hypocrite than Barack Obama. They're doing their political wrangling right now.
    Last edited by Liz Peeps; 06-12-09 at 01:27 AM.

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