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Monday, April 16, 2007

Congress: fiscal responsibility returns with the Democrats

With Democrats in control of both chambers of Congress, their Budget Committee chairman have both reinstated PAYGO rules, requiring any spending increases or tax cuts to be offset with increased revenue. The rules were originally enacted in the early 1990s but allowed to lapse by the Republican Congress in 2001.

There's a lot that can be said about the benefits of pay-as-you-go, but few words could be as valuable as this image:

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