If you were to believe anything Obama says about the sequester, the world is about to end and the US government can barely pay its bills, even now before the sequester. Many in the media are happy to further this nursery rhyme with talking heads touting what a disaster this will be. Reality check. The actual reduction by October 1, is a mere $44 billion, not $85 billion which is the amount over a longer time. A little over 1% of the projected budget. It is not even a cut in spending, only in what they call the base line, or what the rest of us would call the proforma budget. Now compare this to the new $60 billion of new spending for so called Sandy relief when only about $30 billion, or so, was really for Sandy and the rest was classic pork wasted spending. Then there was $12 bill for windmills in the fiscal cliff resolution, plus new tax breaks for Hollywood. Or maybe we should talk about $580 million to Solyndra. So let me get this straight, the world will end because they can’t find a way to reduce proforma spending by around 1%???. If the calamity Obama and LaHood bellow about were real, then the country should get a new CEO and management team, and just declare Chapter 11 now, and fix the problem. That is what private sector companies would do. Staging a bunch of cops and firemen who are actually paid from local, not federal funds, and trying to claim sequester will force them to be fired, is pure misrepresentation and histrionics. Claiming babies will be out of day care or old people will go hungry is pure phony scare tactics. He claimed at the debates that sequester was not his idea, so if he is willing to blatantly lie about that, what is wrong with a little political theater. Just imagine, if we can’t cut the projected INCREASE in the budget by 1%, a measly $44 billion, how will we ever do Simpson Bowles or any other deficit reduction. On top of this, Obama just got an added $680 billion of new tax revenue to cover all his spending needs. And now he is demanding another several hundred billion, but claims all these tax increases have no detrimental impact on the economy. I need to return my economics degree to Wharton since they obviously did not teach me how things really work when you raise taxes. Obama, Nancy and Harry and their minions now try to tell us we have a revenue problem, not a spending problem, and if we just increase spending we will create more jobs. Bottom line, we are really in serious trouble with leaders like this. Either they really believe this absurd line, in which case they are just stupid, or they are perfectly willing to lie to the voters who have no idea what is really going on.

Then we have the little Patty Murray who made it impossible for the so called debt commission to agree on any reductions, and who is now the head of the Senate budget committee, and putting forth a budget that focuses on raising taxes and nothing at all to deal with the real issue of entitlement reform. Patty has a degree in phys ed from some random school, and spent a good part of her early days teaching pre school and a course in parenting. And this is who is the leader in the Senate in charge of the budget?????  You would not hire her to be an accounting clerk based on her education and experience.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.