Advertisements
The Latest:

‘Economics major’ Ocasio-Cortez will vote NO on House rules requiring ‘pay as you go’

Freshman Rep. Alexandria Ocasio-Cortez said Wednesday via Twitter she will vote no on House rules that contain a provision requiring all spending programs to be offset with revenue earnings.

“The ‘pay as you go’ rule, commonly known as PAYGO, requires that any increase in entitlement spending be offset by cuts in other entitlement programs, or by new revenue raisers, in order to prevent the deficit from increasing,” CBS News reported.

The package of rules containing PAYGO are supported by likely incoming House Speaker Nancy Pelosi, D-Calif., pitting the young Democratic Socialist from New York against her very early in the new Congress.

“Tomorrow I will also vote No on the rules package, which is trying to slip in #PAYGO,” Ocasio-Cortez wrote.

“PAYGO isn’t only bad economics, as @RoKhanna explains; it’s also a dark political maneuver designed to hamstring progress on healthcare+other leg. We shouldn’t hinder ourselves from the start,” she argued.

Ocasio-Cortez cited U.S. Rep. Ro Khanna, D-Calif., an alum of the Obama Commerce Department, whose economic views are as far-Left as hers.

She also retweeted a tweet from Khanna, who wrote, “I will be voting NO on the Rules package with #PayGo. It is terrible economics. The austerians were wrong about the Great Recession and Great Depression. At some point, politicians need to learn from mistakes and read economic history.”



What’s interesting is that Khanna is a lawyer and ‘academic,’ and Ocasio-Cortez has a degree in economics — yet she is quoting him.

Also, studies and experts have found that FDR’s Keynesian policies enacted during the Great Depression actually prolonged it. One expert who notes as much is a real economic expert, Thomas Sowell.

Finally, whatever Khanna and Ocasio-Cortez believe about economics, spending policies in past years haven’t worked. The national debt doubled under Obama from roughly $10 trillion to roughly $20 trillion, thanks in large part to increased spending that was not paid for. And because even a GOP-controlled Congress would not agree to POTUS Trump’s recommended spending cuts, the debt continues to grow.

And now Ocasio-Cortez and Khanna favor spending policies that would put deficit growth on steroids.

Never miss a story! Sign up for our daily email newsletter — Click here!


Parler

avatar
1 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
1 Comment authors
Ger Recent comment authors

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of
Ger
Guest

So, tax curs for billionaires is not steroids? It has added another trillion plus to debt while the middle poor (former working class) will end up with a negative tax cut when all parts are in effect…..not considering the extra that will disappear from your meager pay check to support the 1% ultra rich.

%d bloggers like this: