PAYGO is a very simple concept. If you are going to increase spending, you pay for it. If you are going to cut taxes, you pay for it. You don't go into the ditch. If you have a tax cut, you have to pay for it either with increases of other taxes or spending cuts to pay for it. If you have spending increases, you have to pay for it with cutting spending somewhere else or increasing taxes to pay for it. It is a very simple concept.
Discussing the principles of the PAYGO budget rule.
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