President Obama’s weekly address: Pay As You Go

President Barack Obama says the “politics of the moment” can get in the way of balancing the budget. He says the “pay-as-you-go” legislation that he signed into law last week will force Congress to “pay for what it spends, just like everyone else.”

President Barack Obama says the “politics of the moment” can get in the way of balancing the budget.  He says the “pay-as-you-go” legislation that he signed into law last week will force Congress to “pay for what it spends, just like everyone else.”

The rules were in place during the 1990’s and helped create balanced budgets and surpluses.  The President also lifted the U.S. government's borrowing authority to $14.3 trillion.  The U.S. Treasury was expected to exceed the current $12.4 trillion government debt limit within a few weeks.

The President has proposed a record $1.56 trillion deficit for fiscal 2010

 

Are you concerned about the nation’s deficit?  Let me know your thoughts.

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Neil Middleton
WYMT Mountain News
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