House Promise to Start Paygo Diet RIght After It Spends This $1.5 Trillion

Paygo, or pay-as-you-go budgeting, is back in fashion. But the House has found a way to make belt-tightening less painful: They're simply giving themselves loopholes worth $1.5 trillion in the new paygo rules. From today's Washington Post:

Congress agreed Thursday to revive the pay-as-you-go budget rules that helped wipe out massive deficits and balance the budget during the Clinton administration, although the new version includes a long list of exceptions that would permit Democrats to add at least $1.5 trillion to the nation's tab over the next decade.

This is the congressional equivalent of planning a binge on champagne and foie gras on New Year's Eve before starting a teetotaling, low-calorie year. Except in this case, the binge lasts ten years and then they'll think about dieting in 2020.