Spending We Can Afford

The government issued a new way of being able to spend in 2007. They deemed it "paygo". It was a bill that allows Congress to participate in a pay-as-you-budgeting system. Paygo requires that any tax cuts or increase in entitlement spending be balanced with spending reductions in other areas. If they feel that they are spending an excessive amount in one area, they need to reduce spending another to balance out the total spending. Some say that Paygo will hold Congress to spend only what you can afford. It will help force Congress to eleminate wasteful spending and collect unpaid taxes, which will in turn, raise money to cover the National Debt. Others don't feel so warm to the idea. They believe that Paygo will result in tax hikes for Americans that will hurt them in the long run. They believe Paygo will be doing more hurt than good.

I feel that this "paygo" system could work. It makes sense that Congress can only be allowed to spend so much, and in turn they much spend less on one thing than another to achieve that goal of spending only what they can afford. Another plus of this system is that it can be suspended if in a recession or crisis, which is very good for out economy considering we are already in a recession. I believe that this system could actually help Congress get control over the crazy Nation Debt that is being added to by the second in our country. Another supporter of this bill is President Obama. He stated that we was very please that this bill was passed into law during his February Press Release.

For more issues relating to the national budget: Social Insecurity, War Dollars