1. Shorthand for "pay as you go." This zippy
little term was used by President Obama in
February 2010 to describe his new approach to federal spending and fiscal discipline.
2. The opposite of "buy now, pay later."
3. An idea whose time has not yet come, at least not on Capitol Hill.
"Let's invest $58 billion in a
new Highway to Nowhere up there in
Alaska. It'll stimulate the economy for sure!"
"No way, buddy. We'
re on the Paygo plan now."