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TeachMeFinance.com - explain pay-as-you-go (PAYGO) pay-as-you-go (PAYGO) -- A procedure set forth in the Deficit Control Act that ensures that all legislation affecting direct spending or receipts is budget neutral in each fiscal year. The Office of Management and Budget and CBO estimate the five-year budgetary effects of all such legislation enacted before September 31, 2002. If the estimated effects in the budget year would increase the deficit or reduce the surplus for that year, a PAYGO sequestration--a cancellation of budgetary resources available for direct spending programs--is triggered. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.