PAYGO crappo

What he (Rep. Eric Cantor) said:

“Paying for what you spend is basic common sense,” Obama said. “Perhaps that’s why, here in Washington, it’s been so elusive.”

Republican leaders said the proposal comes after record spending initiatives by the Obama administration, such as the $787 billion economic stimulus program.

“It seems a tad disingenuous for the president and Speaker [Nancy] Pelosi to talk about PAYGO rules after ramming trillions in spending through Congress proposing policies that create more debt in the first six months of this year than in the previous 220 years combined,” said Rep. Eric Cantor of Virginia, the House Minority Whip.

Is President Barack Obama off his rocker? Nope. This is step number one to raising all taxes to cover the recent spending frenzy. It has little to do with reducing spending.

…while any tax cut would require a corresponding increase in tax revenue.

Nice way to phrase it, BO, but it’s awfully transparent.