CommunityMy FDL

Sequestration?

Per Wikipedia, sequestration involves: “Spending cuts of approximately $85 billion during 2013 are scheduled to go into effect March 1 if Congress does not intervene.” And, half of that is defense cuts. If, on the other had, Obama puts together one of his “Grand Bargains,” it is scheduled to involve “revenue increases,” which Republicans are objecting to, and “entitlement cuts,” which Democrats have been relatively silent about. In this case, I’m cheering for the Republicans and saying about the sequester: “Bring it on.”

Let’s put this sequestration monster, the most recent of the Obama/GOP fiscal boogey-men, into perspective. The Federal Reserve is now spending $40 billion per fucking month taking Mortgage Backed Securities (MBSs) off the burdened hands of the the nation’s banks. Compare that $40 billion per month to the one-year $42.5 civilian segment of the 2013 sequestration! Get the picture? This sounds like fucking nonsense. All of this wringing of hands and clutching of beads must be Kabuki crap. And Cenk is participating. Rachel is participating. Krugman is wringing his hands.

I’m not saying that a $42.5 billion cut in civilian benefits, etc. is a good thing, but we lost way more that twice that per year when the payroll tax holiday was shut down in January, and all the commentators celebrated that we’d missed the “fiscal cliff.” Now that cut is discussed as though it’ll be the end of the world.

Can’t these people tell the difference between “big” and “little”? Don’t any of them look at the numbers? What am I missing? Did I miss out on the kool aid?

Previous post

Late Late Night FDL: Blues Power

Next post

The Arc of History is long

wigwam

wigwam

9 Comments