We’re talking about $85 billion (cuts to GROWTH in spending) over at least two years. Congress passed a Hurricane Sandy “relief” bill worth around $56 billion. The Federal Reserve prints roughly $85 billion a month as part of its quantitative easing program to prop up the stock market. Obama requested $84 billion in new spending in his recent State of the Union address. This sequester is a pittance. It’s a joke. It’s a drop in the bucket, in terms of what really needs to be done to put our fiscal house in order. But it is about the only way — given our current situation — to get SOME KIND of control on federal spending.
In The Wall Street Journal, House Speaker John Boehner is pointing fingers at Obama about the sequester and current budgetary mess. Big Barry’s media lackeys are trying to hard to pin this “crisis” on Boehner and the House Republicans.
In terms of this sequester, there is no crisis. I truly believe the DC ruling class establishment is scared that Mr. and Mrs. Average American are going to discover that you can cut federal spending and the world will not end.