Originally Posted by Umami
I wonder how much the sequester will end up costing.
I wish someone had asked this question when Obamacare was passed...
We do know it will save taxpayers $85 billion (CBO says it's actually $44 billion) out of a $3.8 trillion dollar budget. It's equivalent to eight days of government spending. Even with that, we're still spending one trillion dollars more than we take in for 2013. The American people were asked to suck up a 2% payroll tax hike and here is our government whining about how the sky will fall if they take a 2% cut. Why is it we're supposed to show fiscal responsibility and thrift in our private lives, just to have our government demonstrate its virtues of gluttony and waste in the public arena?
I'm also to understand that really it's not a cut in terms of how we would define it. A cut to us is a straight across decrease in what we spend year-to-year, but in Washington terms sequestration amounts to a decrease in the nominal rate of increased spending that they had planned for.
Buck up Umami, two years from now you'll be able to post on this forum how Obama saved the day and was the first president that seriously dealt with the America's fiscal problems by letting sequestration happen. It won't matter two years from now that Obama didn't like it, the left-wing spin doctors will claim it was a crowning achievement of bipartisanship to be celebrated in the annals of American history, leading to a new era of fiscal discipline and enlightened governance. Hail the Chief!