Pay-Go Matters
Living within your means is not something to be done only when it is convenient. In fact, its NEVER convenient. It's just simply the right way to go. If the Democrats find some of their agenda harder to address with PAYGO, then so be it. Repgnicans showed their contempt for living within fiscal means by trashing PAYGO, and many in the left wing of the Democratic party would love to do the same, even after making it central to their campaigns. Dems see their hopes of ending the AMT (alternative minimum tax) and raising the minimum wage at risk, which they are. Abolishing AMT would take $50 Billion a year. Not going to happen without some pay-for. The minimum wage bill is more symbolic than earth-shaking as the market dictates that employers pay more than the $5+ for many jobs in many areas. I'd rather stick with PAYGO and establish some budget restraint credentials - especially after seeing the Repugs squander the paltry remnants of what little credibility they had left in fiscal matters. If we as a nation cannot insist of fiscal discipline - it ain't discipline unless it hurts YOU too - it won't matter who runs this country. We are on a course to spend ourselves off of our exalted perch in world financial matters in less than a decade. Look at what has been happening to the dollar as a reserve currency over the last 10 years. For our country and the Democrats long-term political health, I prefer PAYGO to any other agenda item.
- posted by john @ 4:11 PM