• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • paygo

    PAYGO Rhymes With FIASCO

    Big spenders want you to think they’re actually deficit hawks. They’re lauding themselves for passing PAYGO legislation in the U.S. House, with praise from President Obama. But this bill is more loophole than substance. And Congress retains the power to waive its flimsy requirements whenever it wishes. PAYGO is about … More

    Is the House Health Plan Really Paid For?

    Confused about whether the House health care bill, H.R. 3200, is deficit-neutral? No wonder. House Leadership maintains the bill will be “fully paid for and not contribute to the deficit.” On the other hand, CBO has said the bill will add $239 billion to the deficit over 10 years. Leadership’s … More

    Morning Bell: The Obama PAYGO Farce

    Did you ever know anyone that would repeatedly go out to the bar, drink themselves unconscious, and then wake up the next morning and promise never to drink again? That is President Barack Obama when it comes to spending. This February, after signing the largest single-year increase in domestic federal spending since … More

    President’s PAYGO Proposal is Unworkable

    President Obama today is promoting a Pay-as-You-Go (PAYGO) statute requiring that tax cuts and entitlement expansions be collectively deficit-neutral. Congress is likely to take up the proposal later this month. Since 2007, Congress has had a PAYGO rule mandating that each new tax and entitlement bill be deficit-neutral. Because it … More

    Buying Big Government: What the Obama Budget Is Costing You ... This Time

    Hitting the Federal ATM, Again Apparently, It Does Grow on Trees: After an $800 billion stimulus bill, the President’s budget increases spending by $1 trillion over 10 years, includes an additional $250 billion placeholder for another bailout, and calls for a pay-as-you-go (PAYGO) law while astonishingly violating that rule by … More

    Morning Bell: Obama's Net Spending Cut Promise

    Earlier this week the Treasury Department released its 2008 Financial Report of the U.S. Government. According to the report, while government revenues stayed relatively flat, increasing only 1%, the government’s net operating cost more than tripled from the prior fiscal year. The report warns: “In both the near and long … More

    Democrat Leadership Drops All Pretense of Fiscal Restraint

    With Election Day not yet a month past, the Democrat’s promise of fiscal responsibility has already been ditched. Wednesday, The Hill newspaper reported: Even the most ardent deficit hawk among House Democratic leaders says the cost of overhauling the nation’s healthcare system will be heaped on top of the snowballing … More

    Morning Bell: Barack Obama Is Right

    Whether it’s baseball, driving or federal budgeting, rules play a central role in determining outcomes. Lower the pitching mound five inches, and baseball teams score more runs. Put too many signs on the road, and traffic accidents go up. The federal budget process is no different and, as Heritage senior … More

    Déjà Vu All Over Again: The AMT 'Patch' Is Back

    It’s that time of year again. Congress is facing its annual AMT predicament, and once again Americans must suffer through the same worn out debate thanks to House Democrats. The Alternative Minimum Tax (AMT) is a classic example of a broken Congress. The AMT, created in 1969 to prevent the … More

    Tax And Spend Is Here Again

    Heritage senior policy analyst Brian Riedl has taken a close look at the budget passed by Congress this week and notes that it: Assumes tax increases topping $3 trillion over the next decade, or $3,135 per household annually Includes 64 reserve funds that could be used to raise taxes by … More