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Can you find the sequester cuts?
Posted By -NO AUTHOR- On 02/27/2013 @ 9:38 pm In Front Page,Money,Politics,U.S. | No Comments
The truth is out: The threat that “sequester” will decimate the nation is a fraud, according to former presidential candidate Rudy Giuliani.
On Fox News tonight, he said it’s “totally absurd” that Americans should be worried about the cuts, because they’re not cuts at all, just a slower increase in spending.
“Why the American people can’t see through…” he said. “This is fraud.”
Sharing that opinion was former Sen. Jim DeMint, now chief of the Heritage Foundation.
He said the American media is “so sold out to Obama they’re missing the obvious.”
“Spending under the sequester continues to go up,” he said. “Instead of $1.7 trillion [more] in the next decade, we’re going to spend $1.6 trillion.
“Yet the president is making this look like it’s an apocalyptic situation,” he said, “because he wants to do what they’re doing in Europe, which is to blame their economic woes on the reduction in government spending so it feeds into his philosophy [that] we’ve got to keep growing spending.”
DeMint told Fox that the tax increases implemented under Obama on Jan. 1 of 2013 will make a bigger impact on the economy than any sequester.
He said those tax hikes “are going to hurt our economy, probably going to bring it down.”
He said the truth is that there are no cuts in spending.
“Very few people are telling the truth,” he said.
The Congressional Budget Office, in fact, documents his perspective.
In the following chart, the CBO reveals that the “sequester” savings are an infinitesimal portion of the nation’s coming spending plans.
The gray tip of the green spending column is what would be saved, the agency reported.
DeMint, in fact, told Fox that the spending needs to be cut a lot more than the sequester envisions.
“We need to accept the fact we have to cut more than the sequester,” he said.
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