House votes to revive pay-as-you-go budget rules (with, gulp, huge exceptions unfortunately to the tune of $1.5 trillion)

From The Washington Post:

Congress agreed Thursday to revive the pay-as-you-go budget rules that helped wipe out massive deficits and balance the budget during the Clinton administration, although the new version includes a long list of exceptions that would permit Democrats to add at least $1.5 trillion to the nation's tab over the next decade.

The return to paygo comes as record deficits push the government more deeply into debt than at any time since the 1950s.