President Barack Obama called for the so-called "PAYGO" legislation in his weekend radio address.
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The Administration proposed, and the Senate just joined the House in passing, statutory pay-as-you-go (PAYGO) legislation.
Are they serious about enacting statutory PAYGO, attaching it to raising the debt limit?
So while the House may have taken any remaining bite out of PAYGO, it may make little practical difference.
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So the PAYGO rule helped create those record surpluses back in the 1990s.
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That's why I'm grateful that all of you restored the PAYGO rules that worked so well in the 1990s.
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The most important may have been major changes to longstanding PAYGO (pay-as-you-go) rules that were designed to constrain federal deficits.
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If you want to let folks know, just got word that the debt limit PAYGO will be signed later today.
That's why I'm grateful that both the House and the Senate have now voted to reinstate what's called the PAYGO rule.
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Remember, we were -- we said we're going to pay for everything from here on out, pay as you go -- PAYGO.
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In the 1990s, statutory PAYGO encouraged the tough choices that helped move the Government from large deficits to surpluses, and it can do the same today.
Remember that in recent years, the House obeyed its strict PAYGO rules by offsetting AMT relief with higher taxes on managers of hedge funds and other investment firms.
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They also funnel money into investment, rather than consumption, as PAYGO plans do, which, by making the economy more productive, can help ease the burden of paying for retired workers.
There has long been bipartisan understanding of this aspect of Social Security, which is why Congress's paygo rules prohibit using Social Security savings as an offset to pay for unrelated federal spending.
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The Republicans also exempted specific laws from PAYGO.
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Look, it's a very simply concept, this PAYGO.
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That's why last week, I signed into law the PAYGO bill -- says very simply that the United States of America should pay as we go and live within our means again -- just like responsible families and businesses do.
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Then reinstating statutory PAYGO.
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And I'm grateful that the Senate just passed, as we were flying down here to Florida, a rule called pay-as-you-go, or PAYGO, that was a big reason we had record surpluses in the 1990s instead of the record deficits that were handed to me when I ran -- walked into office.
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