Robert J. Samuelson

Obama's Pay-Go Flameout

If President Obama thought he'd score some easy political points by endorsing new PAYGO legislation to control deficit spending, he was sadly mistaken. Although PAYGO--budget-speak for "pay-as-you-go"--seems to limit Congress' ability to cut taxes or raise spending, the initial reviews were unkind and sometimes harsh."This is like qutting drinking, but making an exception for beer and hard liquor," said Maya MacGuineas, president of the Committee for a Responsible Federal Budget, an advocacy...