Sunday, October 11, 2009

Spending What We Can Afford

Congress passed a pay-as-you-go (paygo) budgeting measure to help with current budget challenges. It will require that any tax cuts or increases in entitlement spending reductions elsewhere. People who support pay-as-you-go budgeting say it will supporters say that if we decrease pointless spending and collect upaid taxes it will be easier for Congress to raise most of their funds they need to pay for new things wihtout going into debt even more. This can help because spending will be limited to what can be afforded. But, it may increase tax hikes which will hurt the economy more, it would also limit congresses ability to respond to national emergencies, and some worry the tax increases required by paygo will anger voters.

I agree with both sides because they need to learn how to control their spending and make other people accountable for their own taxes instead of letting it go all of the time. It would make it easier for Americans if they stopped over spending because it's not everyone's fault and we have to pay for it but even if they do go with the pay-as-you-go budgeting it could still result in us paying more for taxes. I think they should do the paygo thing but only tax others more thant never paid for what they were supposed to and not the people that did pay.


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