It is seemingly the monster that just won’t go away. It’s funny how government always picks out the Jellystone sleigh rides, for what to cut first. Just to show people.
But the hand out debt cards never get much attention, because government takes and government gives to their friends. It’s how turd world countries work.
There’s a lot of media alarmism going on lately over automatic sequester cuts, a bi-partisan idea put forward by President Obama and passedby Republicans, set to take place in April unless Congress intervenes. The New York Times describes them as “deep automatic spending cuts that will strike hard.” Locally, too, there is no shortage of hype. “Budget Cuts Could Affect Hundreds of ND Guard Employees,” is the headline from CBS affiliate KXMB.
But how much in spending cuts are we talking about, really? Anything according to govenmnet is a disaster. Do you see a disaster in the charts below. Or do you see what any nomal rdisent of the USA would do, if he were truthful with the people. And what about all the lacky getting handouts, free gas, and other things?
But not much, is really cut, as this chart from Dan Mitchell demonstrates:
Yes it’s a monster as you can plainly see … It’s going to kill us all. What is not said is the monster Obama is creating, is going to destroy the USA if not stopped. Even the CBO says, the federal budget is not sustainable ….
That we can’t even engage in relatively tiny, marginal spending reductions without having a sort of national coronary is central to our country’s fiscal problems. Propose tax hikes, and people freak out. Propose spending cuts, and people freak out. Which is why politicians have been giving us the “best” of both worlds, which is huge spending increases without the corresponding tax increases, resulting of course in huge budget deficits.
Here is what spending actually looks like.
Truth be told, the biggest problem with the sequester cuts is that they target only discretionary spending. In fiscal year 2012, mandatory spending (including Social Security, Medicare, Medicaid and interest on the national debt) totaled $2.254 trillion:
Well as you can see, the real problem is entitlement spending. We have simply promised what we cannot afford. Yes that includes the SS ponzi scheme.