Saturday, November 10, 2007

Fiscal Responsibility Proves Costly (WSJ)

"Democrats took control of Congress this year with a pledge to me more fiscally responsible than their Republican counterparts. Trying to fulfill that promise, however, has cause strains among lawmakers, forced cutbacks on big policy goals and snagged major legislation,
The root of the problem is what is known as pay as you go or paygo, a budget rule revived by the new majority that says Congress must offset new costs with tax increases or spending cuts. The rule's purpose is the prevent new entitlement spending from increasing the budget deficit.
Thus far, it has complicated efforts to pay tax breaks for renewable energy, slowed progress on a farm bill, and become a sticking point with the Bush administration over an effort to expand children's health insurance. "

Costly? Sounds to me like paygo has saved us long suffering taxpayers from yet more fleecing. No kind of energy (renewable, nuclear, biological, fossil, or magical) needs any kind of tax break. The price of energy is so flipping high that it will draw investment dollars out to thin air. Farm bills are subsidies for farmers, taking my money and giving it away to farmers. Why should that happen? What makes farmers worthy enough to take my money? The "children" s health insurance will give my tax money away to adults, and children of families making more than I make.
Lets have more paygo. It's saving us taxpayers real money. The Republicans ought to make a campaign promise to retain paygo should they regain control of Congress next year.

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