RNC Statement on President Obama’s PAYGO Legislation

WASHINGTON - Republican National Committee (RNC) Chairman Michael Steele released the following statement today:

“President Obama and congressional democrats telling Americans they are committed to budget discipline is like Charles Ponzi telling people to trust him with their money. No one should believe that the political party that brought us a $787 billion stimulus bill that hasn't created any jobs, a $3.5 trillion budget, a $50 billion bankruptcy bailout for GM and a record $1.8 trillion budget deficit this year will cut spending on anything but our national defense to achieve PAYGO requirements. That means the Democrats' dirty little secret is that they will raise taxes on families even more to give the illusion that they are committed to budget discipline. Americans shouldn't be fooled by today's latest Ponzi scheme from the white house. But they would be wise to hold onto their wallets.”