Perhaps that 's why , here in Washington , it has been so elusive , '' the president said Tuesday . Watch more on Obama 's ` pay-as-you-go ' plan '' But Republicans were quick to question the administration 's sincerity . Republican Whip Eric Cantor charged that the administration 's focus on PAYGO `` seems more driven by polling and PR strategy than a serious commitment to fiscal discipline . '' `` It seems a tad disingenuous for the President and Speaker -LSB- Nancy -RSB- Pelosi to talk about PAYGO rules after ramming trillions in spending through Congress proposing policies that create more debt in the first six months of this year than in the previous 220 years combined , '' Cantor , R-Virginia , said in a statement Tuesday . Republicans point to the $ 787 billion stimulus package as evidence that Obama is not following his own advice . Cantor 's statement included a `` fiscal timeline '' highlighting government spending initiatives this year . The timeline entry for June 8 points to polls showing dissatisfaction with the administration on spending and the deficit . The entry for June 9 shows the president holding a PAYGO summit
WASHINGTON -LRB- CNN -RRB- -- President Obama urged Congress to adopt a `` pay-as-you-go '' approach to federal spending in order to restore fiscal discipline , but critics say the president 's call lacks credibility . Preisdent Obama says PAYGO is common sense . Faced with a record $ 1.8 trillion deficit , Obama on Tuesday pushed Congress to take up the spending rules , known as PAYGO . The approach would require lawmakers to pay for new programs , dollar-for-dollar , with budget cuts elsewhere . `` The ` pay as you go ' rule is very simple . Congress can only spend a dollar if it saves a dollar elsewhere , '' Obama said , as he announced that he was submitting to Congress a proposal to make PAYGO law . Obama repeated his vow to halve the deficit by the end of his first term , and he said PAYGO is an important step toward making that happen . A previous PAYGO mandate helped erase federal budget deficits in the 1990s , and subsequent ineffective rules contributed to the current budget deficits , Obama said . `` Paying for what you spend is basic common sense .