in 2001, 2002, PAYGO, the multiyear spending caps and the sequestration provision, all of the budget enforcement rules that we put in specially in 1991 that served us so well in the 1990s, were allowed to expire. Why? Because the PAYGO rule would have impeded further tax cuts when we had still big deficits.
John Spratt: “in 2001, 2002, PAYGO, the multiyear spending caps and the sequestration provision, all of the budget enforcement rules…”
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