Obama's Paygo

From Washingtonpost.com

With the budget deficit soaring toward a record $1.8 trillion, the Obama administration is planning to propose tough new rules that would require lawmakers to pay for new initiatives -- including an overhaul of the health system -- or face automatic spending cuts.

The new rules, which could be rolled out as soon as today, come amid growing anxiety among the nation's foreign creditors and some of its top economic policymakers about the tide of red ink. Surveys show ordinary citizens, too, are growing concerned, with the public divided in a new Gallup poll on President Obama's handling of the deficit.