Obama needs to bring back PAYGO

[steelmania75]

I've heard President Obama talk about it, but when does he plan to bring it back?

[DJ13]

1. Paygo cant be brought back when theres still a need for stimulus

[Laelth]

2. Paygo is a TERRIBLE idea.

Somebody, please, remind me what site I am on. I hardly recognize DU these days.

:shrug:

-Laelth

[Statistical]

3. Yup trillions of dollars of nonstop deficit spending is better?

$11T in debt + $1.85T more for 2009 + $9.27T from 2010-2019

$20T and counting.... per the CBO.

Congress is incapable of not maxing out the credit card on their own. They have proven that.

The ONLY surplus in the last 40 years happened under PAYGO.

How long before the Chinese stop buying our debt? $15T? $18T? $20T? Do we want to find out?

[Laelth]

4. Yes, it is.

Our national debt still hasn't reached the percentage of GDP that is was during WWII. We're fine. The government needs to spend money, and a lot of it, to get the economy going.

I don't want to live through a second great depression. Hoover's policies (like PAYGO) failed before and will fail again if we're insane enough to try it.

:dem:

-Laelth

[burning rain]

5. Hate Paygo.

As bad as Tab.