H/T to Matt Stoller for noting that Barack Obama abandoned another centrist position that he has been running on. No more PAYGO:
Tucked into tonight’s debate was a little noticed statement from Obama about fiscal responsibility and what he’ll have to cut. He talked about how the country needs to live within its means and so he supports PAYGO, but importantly, also said we’ll have to get back to that after we get through these rough economic times. I don’t have the exact quote but it’s very good news that he supports a Keynesian stimulus, and hopefully he’ll be able to bring the Blue Dogs along. They want to renounce the stupid PAYGO rules, because making all policy revenue neutral prevents obviously good investment choices like bonding out government revenues to build mass transit, new energy systems, etc.
What other respnsible, centrist positions will Obama abandon? And are Republicans willing to fight to peel off Democratic Blue Dog votes to win a rules fight on PAYGO in a time of a trillion dollar deficit?
While it would seem disinegenuous, given previous objections to PAYGO that it prevented tax cuts. But tax cuts aren’t exactly on the horizon. Matt gives us the schedule::
The first discussion of any import within the new Democratic caucus will take place on November 17, when the caucus decides the rules they will vote on in January. Those rules may include PAYGO or they may not; hopefully if they do include PAGYO there will be exceptions for investment activities that will eventually produce revenue.
Republicans and responsible people (only partial overlap) have between November 17th and some time in early January.