but we must go further, and one important step we can and must take is restoring the so-called asu will rule, or paygo. this is a rule i champion in the senate and called for time and again on the campaign trail. today, with the support of these legislators, including the speaker of the house, my administration is submitting to congress a proposal to codify this rule into law. and i hope that the house and senate will act quickly to pass it. [applause] >> the pay-as-you-go rule is very simple. congress can only spend a dollar if it saves a dollar elsewhere. this principle guide reached possible families for managing a budget and it is no coincidence that this rule was in place when we moved from record deficits to record surpluses in the 1990s. and that when this rule was abandoned we return to record deficits that doubled the national debt. entitlement increases, tax cuts need to be paid for. they are not free, and borrowing to finance them is not a sustainable long-term policy. paying for what you spend is basic common sense. perhaps that's why here in washington it's been so elusive.