Thursday, February 14, 2013

Obama’s ‘Sudden, Harsh, Arbitrary’ Sequester Only 1.2 Percent of 2013 Spending

In his State of the Union address, President Barack Obama described the upcoming sequestration cuts as “sudden, harsh, arbitrary cuts,” claiming they would “devastate” important government functions and cost “hundreds of thousands of jobs.” However, according to Congressional Budget Office figures, the cuts amount to only 1.2 percent of 2013 spending, which is enough to keep the government running for about 4.5 days. More pointedly, the CBO estimates that with the sequester in place, federal spending will be $3.553 trillion in 2013. With the $44 billion in sequester cuts removed, federal spending would rise to $3.597 trillion, which includes a little over $1 trillion in borrowed money, i.e., debt...more

And that's going to cause them to shut down meat inspection

No comments: