Pay Go Rules News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Time for money power politics. in a few minutes house democrats are set to start voting for their new leadership roles for the new year. we'll keep you posted on all that happens there as new developments come throughout the day. one point of contention for those challenging nancy pelosi's commitment is her commitment to pay go. also pay as you go. it requires spending cuts or tax increases to cover the cost of any new policy. when democrats passed obama care back in 2010, every cent of additional spending had to be offset by spending cuts and tax increases. democrats passed a law making pay g...

You give a company a tax cut, they're going to go out and hire people. that's just false. people hire for demand. i am not going to hire if i don't have a reason to hire someone. this is a major myth. it's a huge lie. companies that are larger, on average in the best economies shed jobs because they get to a point where there's diminishing returns and they no longer grow and no longer need to actually hire people. and that's a kaufman foundation research that speaks to that. >> whmeanwhile because of what these taxes would do to the deficit the cbo has sent a letter explaining how the rules, t...

Probably the most fundamental thing you can do to change the way washington works and end business as usual is reform the budget process. we have a budget process that is broken the last 34 years only four times when all the appropriation bills were passed on time. there's this ender in shah is spend more. what -- inertia to spend more. my bill would be composed of republicans and democrats from the house and senate, permanent standing committee in the congress whose soul mission would be to reduce the deficit. it would be required to find 10% in savings -- 10% of the deficit in savings every ...

I guess it was a $12 billion lesson, maybe. bill: do you think the $50 billion bill will pass? because the previous offer was rejected. >> well, they structured it in a way where i cannot make a point of order against it. and i suspect that they are going to try to get their 60 votes in line to pass it. i hope it won't pass, there is no reason that we should be continuing to run up these deficits and this debt and passing it onto our kids, since the democrats passed the ash ledged paygo bill which would discipline spending around here they've put through almost $200 billion in spending, which ...

[ laughter ] that's what galled me. i thought the republicans would be the party of we stand on this principle and they were just as mealy mouthed and milk toast as -- >> and held him out like he was not a member of the party. it was shocking. >> very good literary reference. >> i worked on that. >> beautiful. >> but what is shocking is what with senator bunning is it shine has light on the democrats that the pay-go rules, will they apply when their policies that they're not in favor of, but they don't apply to the democrats, like oh, this is emergency spending, we have to push this through. b...