House passes bill to return to pay-as-you-go budget rules, raise debt limit – Washington Post

In today’s Washington Post we learn that the House is moving toward an old Bill Clinton strategy to get government spending under control.  The piece is entitled House passes bill to return to pay-as-you-go budget rules, raise debt limit .

Here is an excerpt from that article.

“It would be recklessly naive to go about our business in Washington pretending there won’t be severe consequences for the mountain of debt we’re piling up,” said Rep. Eric Cantor (Va.), the No. 2 House Republican. “We’ve heard a lot about the majority’s PAYGO scheme. But this will not affect any spending that has already happened.”

Democrats noted that Republican policies are responsible for the bulk of the debt the country has accumulated in recent years, arguing that any lawmaker who voted to go to war in Iraq while cutting taxes should accept responsibility for a national debt that is approaching $12.3 trillion. In addition, the effects of the worst recession since the Great Depression have driven down tax revenue and forced up spending on unemployment benefits and other social safety net programs, while spurring then-President George W. Bush to enact the $700 billion bank bailout program. The combined effects were pushing deficits into record territory even before Obama took office, Democrats said.”

Wow.

CWO3 Tom Barnes, USCG (Ret.)