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WASHINGTON (AP) - President Barack Obama on Tuesday challenged Congress to force itself to pay for new spending as it goes rather than sink the nation deeper into a debt, calling it a matter of public responsibility. Republicans lashed back that Obama is no voice of fiscal restraint as the deficit soars.The president's plan would require Congress to pay for new increases to federal benefit programs such as health care by raising taxes or coming up with budget cuts—a "pay-as-you-go" system that would have the force of law. Under the proposal, if new spending or tax reductions are not offset, there would be automatic cuts in so-called mandatory programs—although Social Security payments and some other programs would be exempt.Not noted by the president: Tuesday's plan is a watered-down version of the so-called "PAYGO" rules proposed just last month in his own budget plan.That version would have required, on average, all affected legislation to be paid for in the very first year. The new plan only requires such legislation to be financed over the coming decade. That mirrors congressional rules and reflects the likelihood that health care reform will add to the deficit in the early years.Obama said the principle is simple: Congress can only spend a dollar if it saves a dollar somewhere else.
Obama said the principle is simple: Congress can only spend a dollar if it saves a dollar somewhere else.
"save" = "raise taxes""cut military spending"
"Pay-as-you-go": I've already got that plan....but if Obama can get the DUmmies to pay when they go, I'm all for it.
