Paygo is another financial weapon of mass destruction (to borrow an expression from Warren Buffet) Ultimately, it can make government debt a “political derivative”. Instead of having to make a budget, the budget becomes hostage to political whim. Paygo is desirable for irresponsible and ineffective executives (Obama is such an executive), because the budget becomes a game of smoke and mirrors and no-one is accountable.
Obama’s reality is one where perpetual crises ensure that the public sector gets funded before the private sector. There is no confusion about the consequences of this. The public sector competes with the private sector for resources. Since the government wins, it devalues the entire public sector, and the citizens along with it. This was not the vision of our founders…
