In voting for Democrats, I do not endorse Democratic ideas as stated in the election. They’re idiots, but they’re just not as bad as the Republicans we now have in office. For example, a big Democratic talking point this year is PAYGO, as in pay as you go. I have a problem with this mentality, even though our federal budget is out of control.
The fundamental assumption of PAYGO, as I perceive it, is we can only spend what we can pay for. The problem is obvious. If we set tax rates high enough, we can afford a lot. But that’s flawed, because it will lead us to destruction. If the end is destruction, I don’t care if we pay for it or our grandchildren pay for it. Suicide is bad government policy.
Instead, our assumption should be based on what qualifies as legitimate government spending. Is it Constitutional and necessary? Then we should have it. As such, we should have federal revenue to pay for it now. That’s the point at which Congress should set tax policy. Budget, then fund.
If Democrats win Congress today, President Bush needs to remember where he chucked his veto pen.
Doesn’t PAYGO imply: (1) a balanced budget, and (2) not stealing the Social Security surplus and then insolently claiming that there’s a “trust fund”?