WASHINGTON, June 9 (Reuters) - President Barack Obama sought on Tuesday to show he was serious about improving the U.S. budget picture as he called on Congress to pass new limits on tax cuts and spending programs to avoid adding to deficits.
Obama urged passage of "pay-as-you-go" legislation that would require any new tax cut or automatic spending program to be paid for within the budget.
Clearly Sarah Palin has gotten into Obama's head again! No sooner did Palin's remarks splashed across the news, here comes Obama as Mr. Fiscal Responsibility! Obama was out there calling on Congress to pass Pay As You Go (Pay Go) legislation. Does anyone in that administration realize how empty this sounds after Obama has already wasted trillions on Porkulus, bailout and TARP? Not to mention the trillions he is still looking to spend on health care? To make matters worse, Pay Go is probably one of the oldest of Washington's broken promises, hope and change my foot!
Obama said "The 'pay as you go' principle is very simple. Congress can only spend a dollar if it saves a dollar elsewhere," . Yes, it all sounds so nice, transparent and Hopeychangey. However, we all know how this game is played in Washington.
What Congress does is either raise taxes all over the place to pay for the new spending or they play that crazy shell game of "savings" to hide the fact that they are really deficit spending. The Obama administration loves the savings game! You know like those jobs saved by the stimulus money.
I can see it now, Obama in his sternest look and best teleprompter form, telling us how he has found $1.5 trillion dollars in "savings", by cutting military spending by 1% over the next 175 years and that "savings" of $1.5 trillion will fund his new socialized heath care program! Meanwhile, Turbo Tax Timmy is putting in a call to China, "Psst, guys got another trillion or two we can borrow"?