Oh, that dreaded, awful sequester
With the automatic spending cuts known as the sequester set to kick in Friday (March 1) unless an alternative deal is reached, be ready to hear about all the terrible, horrible, unfathomable effects of cutting … less than 3 percent of all federal spending.
To put things in perspective, economist Dan Mitchell of the Cato Institute (and a double Dawg) prepared this graph from Congressional Budget Office data:
Note that, even after the sequester, spending continues to rise every year — in large part because the sequester doesn’t touch entitlements, which are the fastest-growing part of the budget.
Will there be an effect on some people? Of course: The only way there wouldn’t be is if the feds were simply taking tens of billion dollars a year and lighting them on fire. But as far as a modest measures for beginning to curb runaway spending go — and not even this White House is denying any longer that this country has a spending problem — we will hardly see anything more modest than the sequester. Anyone who says we can’t live with the sequester would probably say the same thing about any spending cuts whatsoever.
– By Kyle Wingfield
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276 comments Add your comment
Jefferson
February 25th, 2013
3:59 pm
Go back to the federal rates at the beginning of 1980 and revenue problems are less.
getalife
February 25th, 2013
4:00 pm
Did you cons scream about cuts under w ?
Where were you when we needed you?
Hillbilly D
February 25th, 2013
4:00 pm
when we return to full employment
We’ve never actually had full employment and of course, you never will. The closest we’ve come since statistics have been kept was in 1953, with 2.90%. The lowest rate we’ve had in the last 40 years was 4.0%, in 2000.
http://www.washingtonpost.com/wp-srv/special/business/us-unemployment-rate-history/
getalife
February 25th, 2013
4:01 pm
Hillbilly D .
Yes, 5% works for me
Aesop's Fables and other Lib Economic Theories
February 25th, 2013
4:01 pm
We’re all gonna laugh in obozo’s face when the cuts happen but none of the harem scarem does.
The government monolith loves itself too much to just shut down.
And if you happen to think they will, you’re just as gullible as obozo thinks you are.
getalife
February 25th, 2013
4:04 pm
The turtle will cave again.
Aesop's Fables and other Lib Economic Theories
February 25th, 2013
4:05 pm
Not only could our government survive this and not lose the ability to brutalize us, it could absorb eight or nine more of them.
Mr. Holmes
February 25th, 2013
4:10 pm
I’m glad “Aesop” chimed in because the back & forth over spending rates & what exactly the sequester entails is distracting from the main point of this blog post: That the sequester cuts will be no big deal.
If the sequester goes through, let’s have it entered into the record that Kyle and his disciples are fully in favor, think it’s just a terrific idea, and if they had their way we’d have a similar sequester twice a month, three times in December because it’s Christmas (think of the children). And then let’s all meet back in this space in a month or two to discuss.
getalife
February 25th, 2013
4:11 pm
“Consider how things were supposed to be working at this point. When Europe began its infatuation with austerity, top officials dismissed concerns that slashing spending and raising taxes in depressed economies might deepen their depressions. On the contrary, they insisted, such policies would actually boost economies by inspiring confidence.
But the confidence fairy was a no-show. Nations imposing harsh austerity suffered deep economic downturns; the harsher the austerity, the deeper the downturn. Indeed, this relationship has been so strong that the International Monetary Fund, in a striking mea culpa, admitted that it had underestimated the damage austerity would inflict.
Meanwhile, austerity hasn’t even achieved the minimal goal of reducing debt burdens. Instead, countries pursuing harsh austerity have seen the ratio of debt to G.D.P. rise, because the shrinkage in their economies has outpaced any reduction in the rate of borrowing. And because austerity policies haven’t been offset by expansionary policies elsewhere, the European economy as a whole — which never had much of a recovery from the slump of 2008-9 — is back in recession, with unemployment marching ever higher. ,” Krugman.
The gop want us back in a recession .
Tell them not no but hell no.
indigo
February 25th, 2013
4:14 pm
Aesop – 4:01
Many cons have been saying “end of the world” also.
Naturally, you did not notice this.
getalife
February 25th, 2013
4:17 pm
Kyle chose the newt for President so his judgement is bad.
getalife
February 25th, 2013
4:18 pm
It is very obvious the Catholic church is gay.
Aesop's Fables and other Lib Economic Theories
February 25th, 2013
4:18 pm
Let’s see here, we had negative growth last quarter and unemployment went up, so yeah, emptying out the treasury and borrowing from China has been a great idea. Right up there with the electric car.
getalife
February 25th, 2013
4:20 pm
It was a bad idea for w to give the banks and military complex a blank check.
I know Aesop cheered him on and never mentioned cuts to anything.
Jerry Eads
February 25th, 2013
4:21 pm
I realize you Republicans (not under any circumstances ever to be confused with conservatives) don’t care one tinker’s whit about others, but I’d bet you’d care more if it was your butt losing your job, home, etc. Sequester is one stupid shortsighted demonstration of egregious incompetence that will indeed make only a small dent overall, but it is senseless blind swordsplay.
No, not a Democrat either. In this day and age I don’t have much truck with either camp. But right now Repubs are by far outstupiding the Dems.
Aesop's Fables and other Lib Economic Theories
February 25th, 2013
4:21 pm
I suggest credit counseling for our government.
Put away that credit card.
You can do it.
getalife
February 25th, 2013
4:23 pm
Aesop,
Why didn’t you scream for cuts under w?
Do you agree with td that w was a great President?
Mr. Holmes
February 25th, 2013
4:24 pm
we had negative growth last quarter and unemployment went up, so yeah, emptying out the treasury and borrowing from China has been a great idea.
Gotta admit, I’ve not seen economic analysis this sophisticated in quite some time. I suggest you whip together a resume package for the IMF and World Bank post-haste. Every day your wisdom is denied the world is a lost opportunity. For all of us. (Again, think of the children)
Cherokee
February 25th, 2013
4:25 pm
Aesop @ 4:01. You sound just like Kyle’s choice for President – who tried it once.
Didn’t work so well for him, and it won’t work well for today’s Republicans.
Too bad that you have to drag us all down before you learn your lesson. Real people are going to get hurt.
But at least you’ve got the courage of your convictions, unlike most Republicans who are desperately trying to blame Obama.
Own the cuts! Brag about them… and as Mr. Holmes says, we’ll see how it works for you in a few months.
getalife
February 25th, 2013
4:26 pm
You can say w allowed the modern day robber barons of banks, corps and military industrial complex to rob our treasury and now cry about it.
getalife
February 25th, 2013
4:27 pm
now cons cry about it.
My bad.
Get Real
February 25th, 2013
4:28 pm
getalife….time to change your Depends as you are spewing out of both ends
getalife
February 25th, 2013
4:30 pm
Get Real,
That is a typical con rebuttal but I don’t wear diapers like vitter.
curious
February 25th, 2013
4:34 pm
If, as posted earlier, there is no net decrease in Federal Funding as a result of the Sequestor, then why do personnel and services have to be cut?
Aesop's Fables and other Lib Economic Theories
February 25th, 2013
4:42 pm
Why didn’t you scream for cuts under w?
The last budget put forth by W which wasn’t subsequently molested by the dummycrats in the house had deficitit of 161 billion. Now the federal budget has deficitit of 1.61 TRILLION.
Are you from Cuba or something?
Just Saying..
February 25th, 2013
4:42 pm
“If the sequester goes through, let’s have it entered into the record that Kyle and his disciples are fully in favor, think it’s just a terrific idea, and if they had their way we’d have a similar sequester twice a month, three times in December because it’s Christmas (think of the children). And then let’s all meet back in this space in a month or two to discuss.”
Now THAT is a capital/capitol idea.
Anyway you want to spell it…
Aesop's Fables and other Lib Economic Theories
February 25th, 2013
4:46 pm
(Again, think of the children)
Coming from the people that are ravishing our children’s future.
They will live short, brutal, nasty lives because of your excesses and there are words for this but Kyle won’t let me use them.
Just Saying..
February 25th, 2013
4:49 pm
“But right now Repubs are by far outstupiding the Dems.”
And there’s the sadness.
How do you even DO that?
It’s right there Toddlers and Tiaras.
And then comes Honey Boo Boo…..
1961_Xer
February 25th, 2013
4:56 pm
Why didn’t you scream for cuts under w?
Actually, getalife, a LOT of us screamed for cuts under w. A LOT of fiscal conservatives could see the folly of two wars without clear purpose. A LOT of fiscal conservatives could see the huge bubble in real estate. We were screaming, but the rest of the Republican party (and most of the Democratic party) were to drunk from the spending spree to even listen.
Similarly, a LOT of Democrats want sequestration to go through as well. The defense budget hasn’t been cut in years, and they see an opportunity. Of course, they are not all publicly stating their position for fear of not aligning with the WH. But a lot of progressives are jumping for joy at a reduction in spending for the military industrial complex.
Just Saying..
February 25th, 2013
4:56 pm
DOW seems to be agreeing with Kyle today.
The Party of Business.
If your bidness is a carnival…
Mr. Holmes
February 25th, 2013
4:56 pm
Coming from the people that are ravishing our children’s future.
Yes, well, coming from the political worldview that would still have our children working in textile mills and drinking from separate water fountains, your concern is duly noted.
Aesop's Fables and other Lib Economic Theories
February 25th, 2013
5:04 pm
political worldview that would still have our children working in textile mills and drinking from separate water fountains
Nothing like a liberal getting swept away in their own feminine hysteria.
1961_Xer
February 25th, 2013
5:04 pm
If, as posted earlier, there is no net decrease in Federal Funding as a result of the Sequestor, then why do personnel and services have to be cut?
Ah, yes. The question no one is asking of the President. He has outlined the most difficult to accept cuts for hyperbole. For example, are 5000 kids in GA really going to go without vaccinations? Or can we just fire one Medicaid employee or take away their holiday party budget and vaccinate those kids anyway?
Another example: Dump the TSA. Make airlines hire their own security to man the TSA stations. Many wanted it to be that way to begin with… it was the Democrats who declared “if you want to professionalize you have to federalize”. A federalized TSA was a boondoggle to begin with, and the airlines could probably do it cheaper. So let them.
What the sequester may do is all hyperbole meant to scare.
Old Timer
February 25th, 2013
5:06 pm
It is time for Washington and our president to join the United States. The double speak coming out of Washington is an embarassment. Obama’s rhetoric changes from day to day, more in showman style than governance style. he enjoys taxpayer confusion as he rides around in his $180,000 dollar airborne carraige. He reiminds me of the playground bully who is making Jimmy Carter look like a precision instrument.
1961_Xer
February 25th, 2013
5:06 pm
Yes, well, coming from the political worldview that would still have our children working in textile mills and drinking from separate water fountains, your concern is duly noted.
Yep, it sure is nice that Republicans led the charge to end that.
Just Saying..
February 25th, 2013
5:10 pm
“…feminine hysteria.”
For Fables, words of insult.
For the 21st Century…
bluecoat
February 25th, 2013
5:10 pm
If I was younger the Harem part my be ok.So the scarem part you cons can keep.
Mr. Holmes
February 25th, 2013
5:11 pm
Nothing like a liberal getting swept away in their own feminine hysteria.
And right on cue, the emasculating (well, attempted, anyway) insults. Accusations of communist/socialist impulses coming in 3 … 2 … 1 ….
td
February 25th, 2013
5:11 pm
Jefferson
February 25th, 2013
3:59 pm
Go back to the federal rates at the beginning of 1980 and revenue problems are less.
Go back to the spending levels of 1980 and there will be no problems with revenues.
bluecoat
February 25th, 2013
5:12 pm
All ideas can’t be great like Ethanol.
Stephenson Billings
February 25th, 2013
5:14 pm
Furloughs are looming, but the feds are still hiring
“The federal government is facing massive furloughs beginning later this week, but it is still running help-wanted ads seeking workers to answer phones — at up to $81,000 a year — or to drive cars for the State Department, for as much as $26.45 an hour.
Among them were the staff assistant job at the Labor Department, which paid up to $81,204 a year for someone to do scheduling and screening calls; a new lawyer for the Morris K. Udall Scholarship program, with a salary of up to $155,000 a year; and a new director for the Air Force’s history and museums program, with a salary topping out at $165,300 a year.
There is also an ad for 10 “motor vehicle operator” jobs at the State Department, ranging in pay from $22.76 to $26.45 an hour for duties described as: “Drive and operate vans, trucks, and passenger vehicles on shuttle runs, special, long distance, and overnight trips; Perform maintenance and minor repairs on vehicles that includes but is not limited to changing flat tires and checking vehicle oil; and Assist passengers and loads and/or unload luggage.” ”
http://www.washingtontimes.com/blog/inside-politics/2013/feb/25/furloughs-are-looming-feds-are-still-hiring/
Stephenson Billings
February 25th, 2013
5:18 pm
President Obama Faces ‘Cliff Fatigue’ in Latest Budget Fight
“Hundreds of thousands of jobs are at risk. Delays await at airports. Padlocks are ready at national parks.
The nation will suffer greater risk of wildfires, workplace deaths, and even surprise weather events, if government predictions are to be believed. Our entire military readiness and superiority are at risk.
What if nobody cares?
[snip]
But there are few signs to suggest the public is listening. A poll out late last week found that barely one in four Americans said they’d heard much about the automatic spending cuts — known unhelpfully for public-comprehension purposes as “sequestration” — and four in 10 said they were comfortable with the cuts going into effect.
“Here’s yet another deadline, and everyone’s telling us everything will be destroyed if we go past it,” said Michael Dimock, director of the Pew Research Center for the People and the Press, which conducted the poll. “It’s very hard to get the same sense of urgency for a third time in a row, just two months after the last one.”
Call it cliff fatigue. After a series of dramatic confrontations with congressional Republicans, an American electorate that has little trust in Washington — and that’s seeing a soaring stock market, plus a recovering housing market — looks to be tuning out the latest round of fiscal fighting, at least for now.
That’s troublesome news for Obama, and not just for the recurring fights over spending and deficits. As his second-term agenda gets cranking with Congress’ return this week, the president needs to convince the public not just on the merits of his priorities but also on the urgency.”
http://abcnews.go.com/blogs/politics/2013/02/president-obama-faces-cliff-fatigue-in-latest-budget-fight/
Aquagirl
February 25th, 2013
5:21 pm
Actually, getalife, a LOT of us screamed for cuts under w. A LOT of fiscal conservatives could see the folly of two wars without clear purpose.
The “I complained about W’s spending, so that doesn’t count” line. Yeah, we’ve heard that before. Everybody now claims they whined about it and were sooooooo against the spending. They would have spoken up then if they weren’t tragically kidnapped by pirates or aliens or whatever, it’s not their fault!
Face it—y’all got punked by a party touting fiscal and personal responsibility and they’re punking you all over again because you’re too proud to admit your mistake.
getalife
February 25th, 2013
5:22 pm
“Actually, getalife, a LOT of us screamed for cuts under w.”
BS, I blogged on many blogs during the w disaster and not one con say cut anything.
I watched C Span and not one gop proposed cuts.
getalife
February 25th, 2013
5:25 pm
The gop blew a surplus, a balanced budget, blew out the deficit and now cry about cuts.
That is reality.
It is a load of gop crap and self inflicted bs.
Own it cons.
Ray
February 25th, 2013
5:25 pm
You can’t have your cake and eat it (too).
Yet, everyone allowed the government to ignore it’s needs to save money, raise money, for the “Baby Boomer” generation’s retirement. It is going to make any chart look like a python that has eaten a pig.
Couple that with two expensive wars, and hurricanes (Katrina’s re-engineering project of the levees exceeded 5 billion dollars alone.) It seems logical that one might expect a HUGE increase in the deficit, if Americans were not, are not, being asked to pay for these decidedly “needed” endeavors.
Pay now, or later with cheaper dollars. It seems like the decision to pay later has been made. With less dollars to spend, the thought is there will be less waste. Time will tell.
Stephenson Billings
February 25th, 2013
5:27 pm
Only in the twisted logic of Washington DC can a decrease in the increase of spending be declared “draconian cuts”. Fortunately, few people believe them anymore.
Aesop's Fables and other Lib Economic Theories
February 25th, 2013
5:28 pm
I’ve seen women burst into tears over the most ridiculous things. That’s who they are, they can’t help it, no matter how much you libs freakishly wish otherwise. But that doesn’t mean you have to act like them.
Man up, libbies.
td
February 25th, 2013
5:28 pm
getalife
February 25th, 2013
5:22 pm
“Actually, getalife, a LOT of us screamed for cuts under w.”
BS, I blogged on many blogs during the w disaster and not one con say cut anything.
I watched C Span and not one gop proposed cuts.
I guess you never listened to Rush or Hannity from 2002 to 2005? They had a show at least once a week on nothing but how establishment Republicans were no better then Democrats on spending.
Aesop's Fables and other Lib Economic Theories
February 25th, 2013
5:30 pm
We’re going over this cliff, hahahaha.
So stop worrying and learn to love the cuts.