Wednesday, February 20, 2013

Three Facts To Remember In The
Coming Week As Obama
Scare-Mongers Relentlessly On
The Sequester He Demanded: 

As you listen to all the hysteria in Washington peak over the next couple of days as the March 1st deadline for Obama's sequester draws closer, let's go over some facts: 

Fact #1. $85 billion dollars is less than 1% of a $3.6 trillion dollar budget. It is the equivalent of what the Government spends in 7 1/2 days.  In 2012 the Federal Government was spending $11 billion per day.

Fact #2.  Spending on our Federal Government doubled from 2000 to 2011.  The Federal Budget in 2000 was $1.7 trillion.  The Federal Budget in 2011 was $3.6 trillion.  In 11 years the amount of money spent on the Federal government doubled.

Fact #3.  It's estimated Washington wastes anywhere from $125 billion/yr to $1 trillion/yr.  Yet the usual suspects are wailing that tax increases and new spending are the only way out of this crisis.  Those evil spending cuts need to keep being put off indefinitely.

It depends on how you define 'waste'. As long as no fraud is involved, some people don't count programs such as the ones you'll find in the link below as 'waste' , since all the money was earmarked for those programs and it all went where it was supposed to.

However spending $175 million taxpayers bucks per year to maintain hundreds of buildings that aren't even being used for anything would qualify as 'waste' in most people's books.  

Remember these 3 facts as Obama spends the next 8 days claiming a budget cut of less than 1% is going to end life on Earth as we presently know it.  

Apparently just going back to 2011 levels of Federal spending is A AWFUL FATE THAT MUST BE AVOIDED AT ALL COSTS. 

The only way we can all be saved is if these evil spending cuts are averted and Obama gets the new tax increases he wants so he can spend new revenue. 

So here he is, getting ready to spend the next week pretending the sequester he demanded and signed into law is some evil cross he has to bear that has been put there by the Republicans.  

UPDATE: Krauthammer on why Obama isn't proffering any solutions of his own to the sequester:

KRAUTHAMMER: This is the ridiculously hyped armageddon since the Mayan calendar. In fact, it looks worse than the Mayan disaster. Look, this, as you say, can be solved in a day, in an hour by allowing a transfer of funds. It’s incredibly soluble, easily soluble. And the president is the one who ought to propose it. He won’t, of course, because he is looking for a fight and not a solution. But secondly, look at this in perspective. 
In terms of the gross domestic product of our economy this is .03, it’s a third of 1% of our domestic economy. On the domestic side, overall, it’s 2.5 cents on the dollar. And overall, on the non-defense side, it’s a penny-and-a-half on the dollar of reductions. Here we are with a debt of $16 trillion and the argument today is if we cut a penny-and-a-half on non-defense spending in one year it’s the end of the world. If so, we are hopelessly in debt and we’re going to end up like Greece.

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