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June 11, 2009
Posted: 05:00 PM ET
The National Debt Clock in midtown Manhattan shows the total U.S. government debt as well as the calculated amount per U.S. family. (PHOTO CREDIT: STAN HONDA/AFP/Getty Images) FROM CNN's Jack Cafferty: President Obama wants to have it both ways. He wants the government to stick to pay-as-you-go rules in order to keep federal budgets under control. The nation's deficit is expected to top $1.8 trillion this year - more than four-times last year's all-time high. The president wants Congress to pass a law that requires lawmakers to pay for new spending and tax cuts without adding to skyrocketing deficits. He says the rule, which was in effect in the 1990s when the U.S. had budget surpluses, is simple: "Congress can only spend a dollar if it saves a dollar elsewhere." But the president apparently wants pay-as-you-go to apply to everybody but him. This plan would make about $2.5 trillion of exemptions for some of the president's priorities over the next 10 years. And Mr. Obama's health care reform plan would also be able to run huge deficits in its early years. Hardly the stuff of fiscal restraint. Republicans are warning that health care reform will add to budget deficits for years to come. House Minority Leader John Boehner says the Democrats have ignored calls for fiscal responsibility, and he's right: "We don't need more rhetoric and gimmicks. We need action to tackle the tremendous fiscal challenges facing this nation." Of course, the Republicans ran up record deficits under President Bush, so Boehner's cries ring a little hollow. Here’s my question to you: Is it okay to add to the record national debt in order to pay for health care reform? Interested to know which ones made it on air?
Brian from Philadelphia writes: Peg from New York writes: Fred writes: Matt writes: Judy writes: Mark from Arkansas writes: Filed under: Health care
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Jack Cafferty sounds off hourly on the Situation Room on the stories crossing his radar. Now, you can check in with Jack online to see what he's thinking and weigh in with your own comments online and on TV. Send your comments on the "Cafferty File". Jack's Book
Read excerpts about Jack's battle with alcoholism and Jack's philosophy on parenting. CNN=Politics Screensaver
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