In which I hog Google's bandwidth, drink my morning coffee, and talk about how to return reality-based budget policy to the federal budget:
PAYGO: Brad DeLong 2 min 58 sec -- Jun 16, 2006
Brad DeLong's Morning Coffee. Tax cuts should be paid for by spending cuts. Spending increases should be paid for" by tax increases. This was the secret principle behind the Clinton administration's success. The right wing will acknowledge the force of this principle--but only when a Democrat wins the White House.