After spending more money than any of the past presidents and after quadrupling the debt, Obama now claims to want fiscal responsibility. He is touting the pay as you go plan which means that Congress must have the money to spend it. If they spend a dollar they have to either cut a dollar or raise one in taxes. Besides the comedy involved with Obama wanting to be fiscally responsible, pay as you go is not a bad idea. Except…
Democrats have options under pay as you go. They either have to cut something or raise taxes. Their history is quite clear, they will not cut spending and they will not cut other budget items so that leaves them with raising taxes.
“The ‘pay as you go’ principle is very simple. Congress can only spend a dollar if it saves a dollar elsewhere,” Obama said in a speech at the White House attended by several Democratic members of Congress. al-Reuters
Notice he did not say or raise taxes. That would be too honest and meet opposition. He is misleading us once again.
Under pay as you go the Democrats will continue to spend and will raise taxes to pay for it. Imagine if pay as you go was the rule prior to the stimulus. There is no doubt that taxes will have to be raised but they would have to have raised them when they passed the stimulus and we would be getting socked from all angles.
The stimulus would have never passed.
If pay as you go becomes the rule and there is no mechanism to keep them from raising taxes then everyone who earns wages will end up paying more. There are simply not enough rich people to pay for the largess of government.
The irony of it all is that Obama is talking about fiscal responsibility when he has been fiscally irresponsible since the day he took office.
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