People are concerned about congressional spending and the budget deficit pay-as-you-go budgeting. Paygo requires tax cuts or increases in entitlement spending. There is debate if paygo is a good approach. Some say it is necessary so Congress understands that deficits matter. It responds to concerns about spending and national debt, which could lead to an economic catastrophe. Paygo holds Congress to spending only what they can pay for. By eliminates waste spending and collects unpaid taxes, Congress can raise most funds needed for new initiatives, without anymore debt. Paygo can also be suspended in case of recession or crisis. Others say the paygo is the wrong approach and rather than limiting spending it will result in tax hikes that will hurt Americans and the economy. Budget deficits should be eliminated by growth in the economy. People worry that constraints of paygo will prevent Congress from be able to reduce the Alternative Minimum Tax growth. Critics think paygo with restrict Congress’s ability to respond to national emergencies and fear that the program cuts or tax increases will anger voters.
I think that paygo (pay-as-you-go) is a good idea. I like the fact that it will hold Congress to spending only what they can pay for. Although it may increase taxes, if it gets rid of unnecessary spending we can get out of debt and raise funds for new things. The spending of government has been getting out of hand and we need to fix it so that future generations don’t have to deal with how to handle not only the present expenses but how to deal with the expenses that have been left over from past generations. According to Fox News, President Obama said that restoring the pay-as-you-go method would deal with politics and crises of the day along with the nation’s financial health.
Social Insecurity: http://currenteventsbyhayley.blogspot.com/
War Dollars: http://backstroker321.blogspot.com/
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