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FACT #4

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The Obama Administration signed the Pay As You Go Act on February12, 2010

The Pay As You GoAct (Public Law 111-139) requires that all new legislation changing taxes,fees, or mandatory expenditures, taken together, must not increase projected deficits. This requirement is enforced by the threat of automatic across-the-board cuts in selected mandatory programs in the event that legislation taken as a whole does not meet the PAYGO standard established bythe law.


This budget reducing act was created by and passed by Democrats, and OPPOSED by a majority of Republicans in Congress.
From Wikipedia:

The Act was introduced in theHouse of Representatives on June 17, 2009, by Majority Leader Steny Hoyer(D-Maryland) andhas been cosponsored by 169 of the 257 House Democrats.[1]

The Act had initially passed the House of Representatives 265-166 as a standalone bill in July 2009, then was attached in the Senate to legislation raising the debt limit to $14.3 trillion. A majority of 241 Democrats supported the bill while a majority of 153 Republicans opposed it.

Sources:
 
For additional information:
 

Statutory Pay-As-You-Go Act - Wikipedia

Senate passes pay-go rule on party-line vote - The Hill's Blog Briefing Room