PAYGO
Sign in to saveAlso known as Pay As You GO, PAYG, unfunded pension system, unfunded system
PAYGO (Pay As You GO) is the practice of financing expenditures with funds that are currently available rather than borrowed.
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- Unfunded pension system
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Article
13 sectionsContents
- Budgeting
- History in the United States
- Statutory PAYGO (1990–2002)
- PAYGO not in effect (2003–2006)
- PAYGO as House rule (2007–2010)
- Return of statutory PAYGO (2010–present)
- Administrative PAYGO (2019-present)
- Social insurance
- U.S. Social Security
- German Pension System
- See also
- References
- External links
PAYGO (Pay As You GO) is the practice of financing expenditures with funds that are currently available rather than borrowed.
==Budgeting== The PAYGO compels new spending or tax changes not to add to the federal debt. Not to be confused with pay-as-you-go financing, which is when a government saves up money to fund a specific project. Under the PAYGO rules, a new proposal must either be "budget neutral" or offset with savings derived from existing funds. The goal of this is to require those in control of the budget to engage in the diligence of prioritizing expenses and exercising fiscal restraint.