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On the Hill, the push for 'PayGo' begins

Congressional Democrats have begun the task of codifying into federal law "PayGo", rules that mandate an equivalent cut in spending in one area to compensate for an increase in spending elsewhere. The President has proposed the action to trim the budget, but opponents say recent stimulus and financial bailout spending make them wary of the idea.

Tags: newsstand , budget , Rep. Steny Hoyer , Rep. Alan Boyd , OMB , Peter Orzag , President Barack Obama

Monday - 10/17/2011, 01:08pm EDT

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Budget panel power questioned

The president has repeated a promise to create, by executive order, a panel of Democrats and Republicans to suggest ways for closing the gap between what the government spends and what it collects in revenue. His proposal is weaker than a similar plan recently defeated by the Senate because Congress would not be required to vote on the presidential panel's recommendations.

Tags: budget , independent panel ,

Friday - 09/30/2011, 10:47am EDT

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