If sequestration kicks in, the federal government will still have more money than it did in 2012

At least the Detroit News Editorial Board (unlike a couple of their lefty reporters) has the right understanding of the ‘sequestration’ game being played in Washington:

New taxes enacted in January will reap nearly $150 billion in additional revenue for the federal government by the time the fiscal year ends Sept. 30. So why should reducing the planned spending increase by $85 billion devastate the nation?

It shouldn’t. And if it does, the reason won’t be that Washington was starved for money, but rather that responsible governing has completely given way to politics.

Even if the so-called sequestration spending cuts kick in Friday, the federal government will have far more money to work with this year than it did in 2012. But the added funds won’t go to reduce the deficit.

“It will all go to growing the government,” says Curtis Dubay of the conservative Heritage Foundation think tank.

And though the federal bureaucracy will continue to grow, sequester cuts or no, President Barack Obama is barnstorming the nation to sell the canard that a slight curtailment in discretionary spending growth will force him to leave national forests unprotected, release illegal immigrants from jail, ground passenger planes and a host of other self-inflicted disasters.

This is so true. The ‘sequestration’ is only a slight reduction in the rate of government growth and not a cut.

fed-spend-without-with-sequester

Therefore, if the world didn’t end last year (when Washington had less money) the world shouldn’t end when Washington has more of our money this year.

Comments
  • Jim at Asylum Watch February 28, 2013 at 10:41 am

    134% increase in debt service and that probably assume continued low interest rates. If the bond market ever decides they are getting screwed, the smelly stuff will hit the fan.

    • steve February 28, 2013 at 5:20 pm

      Yep, the smelly stuff will hit the fan real soon.

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