Mr. $490 Billion Deficit says what?

Obama proposes making ‘pay-as-you-go’ the law

President Obama on Tuesday proposed making “pay-as-you-go” rules for federal spending into law.

The so-called PAYGO proposal requires Congress to balance any increased spending by equal savings elsewhere, Obama said in announcing the measure that now goes to Congress.
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“Paying for what you spend is basic common sense,” Obama said. “Perhaps that’s why, here in Washington, it’s been so elusive.”