Pay-Go: Fiscal Responsibility or Political Cover to Raise Your Taxes?

By Rep. Eric Cantor

When the new majority implemented "pay-go" spending rules last fall, the American people thought they were getting a check on runaway congressional spending - not an excuse to raise taxes. Congress would offset any dollar of new government spending, we were told, with spending reductions in other areas.

Sadly, this year the majority has done nothing to change its profligate ways. Congress’ spending proposal came out $23 billion over the president’s budget request, an overall increase of over 10 percent from last year’s levels. Instead, Democrats have used pay-go as a pretext for a wave of new tax increases. Their strategy, disguised in the garb of “fiscal responsibility,” threatens to.....

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