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Terror in Washington: The Piddly Sequestration

Written by Gary North on February 6, 2013

On March 1, a piddly reduction of spending is scheduled to take place. It’s not $1 trillion. It’s $1 trillion over a decade.

The annual deficit is running $1 trillion, as usual.

The thought that there will be a piddly $100 billion in spending cuts and tax hikes has the President terrified. “We cannot cut our way to prosperity,” he told reporters.

Translation: “We can and must spend our way to prosperity.” Boondoggles forever! Deficits forever! Kick the can forever!

He wants a new deal before March 1. He wants Congress to pass a law to overturn the 2011 law. He has less than one month to negotiate it.

House Republicans are for kicking the can. But they want a bill that they can sell to the Keynesian voters back home. So far, Obama has not buckled.

Will the law be enforced? No one knows.

Will the federal budget ever get balanced? Not in this decade or the next.

Will voters pressure the House to stick to its guns and let the cuts go through? A few, maybe. But there will be no outpouring of support for saying no. People say they want spending cuts, but a $1 trillion deficit is not the result of spending cuts.

As long as voters feel no pain, they are content. The deficit rises.

I don’t see how Congress will give the President what he wants: tax hikes. He will have to buckle. He has shown no signs of buckling. The clock is ticking.

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2 thoughts on “Terror in Washington: The Piddly Sequestration

  1. Im not a math genious.. in fact that was my worst subject in school. but i can do this math… .. Barrys math is worse than mine..
    When you spend $1.5 trillion, in 1 year , and cut spending $1 trillion in 10 years, where is that a good deal… NOT SO MUCH

  2. MontanaMel says:

    It's time that our HOUSE teaches this reject from the zoo's monkey house a lesson…. DEMANDING gets you folded, spindled, and mashed to a pulp!… Go ahead, throw yourself on the big rug in the oval office one more time…before they roll it up and move out for that "nearly 400 million" make over project – say what?…yep, spending near 1/2 Billion on his digs!… I seem to remember HE PROPOSED THIS DEAL….back when he wanted the debt limit raised the last time!… AND, he shafted the GOP that was meeting with him over that…THEN, HE SAID THAT HE WOULDN'T LET THEM (gop) SLIDE OUT OF THESE CUTS, HE WOULD MAKE SURE THEY TOOK EFFECT…that was in late 2011… Now, he wants them changed/stopped ??? Go figure, he's done another flip-flop… This boy is over done…toss him on the plate and serve him up for some carving… With this "new" bomb shelter or whatever it is, under the driveway to the WH…maybe the best we could do would be to scare him in there, and then run a nice weld bead all around the big vault door, eh?…