WASHINGTON – A day after promising to accelerate the pace of stimulus spending, Presidentwill focus on how the government plans to pay off its enormous tab.
Obama will talk about efforts to adhere to the what is known in Washington as the “paygo” system. The system requires that legislation cutting taxes, establishing new benefit programs or making programs more generous be counterweighted with higher revenues or benefit cuts elsewhere.
Members of the “Blue Dog” coalition, a group of moderate and conservative Democrats, plan to attend the president’s speech Tuesday at the .
The group proposed a legally binding “pay as you go” system governing new tax cuts and benefit programs such as Obama’s health reform initiative.