Why Worry About The Deficit Now? House Passes 'PayGo' Rule Over Objections Of Progressives
January 4, 2019
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10:29Now PlayingWhy Worry About The Deficit Now? House Passes 'PayGo' Rule Over Objections Of Progressives
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Economist Julianne Malveaux and Dr. Michael McLain, Assistant Professor of Business Administration in the Hampton University School of Business debate the pros and cons of "PayGo" and its potential impact on Democrats ability to get things done in Congress.
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House Democrats passed new rules Thursday requiring that legislation creating new entitlement programs also include pay cuts or tax increases to prevent an increase in the federal deficit.
The rule's imposition is a loss for some liberals, including Reps. Ro Khanna of California and Alexandria OcasioCortez of New York, and activists on the Left who opposed it on the grounds that it could hinder efforts to introduce new programs, such as expanding Medicare coverage to all age groups or a federal jobs guarantee. Read more
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