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That awkward moment when your local Red state radio station that has been promoting spending cuts from 2008-end of 2012 suddenly starts reporting in 2013 how damaging those spending cuts would be to the local economy...
That awkward moment when your local Red state radio station that has been promoting spending cuts from 2008-end of 2012 suddenly starts reporting in 2013 how damaging those spending cuts would be to the local economy...
Sequester Cuts Are Half What the Media Is Reporting
It's a $40 billion cut from a horribly bloated $3.6 trillion budget (increased from about $2.7 trillion in Bush's last year, to the tune of much wailing and gnashing of teeth from the left over the deficit). So this amounts to a little over 1% of the budget, And these are doomsday cuts???
I might add that I don't buy the doom & gloom from Panetta and various Republicans when it comes to defense cuts. Of course I want our military to have the latest and greatest, but when we spend more on defense than the next 13 countries combined, I'm not too worried. The U.S. defense budget: It's even bigger than Obama suggested - Los Angeles Times
It's just another example of Pres. Obama's lack of grasp on the federal budget. He blamed the deficits on the Iraq war, which was only about 3% of federal spending while it lasted. Now he predicts doomsday from a 1% cut. If I had the kind of debt in my personal finances that DC has, I'd be looking at something closer to a 50% spending cut. Yesterday, if not sooner.
"And these are doomsday cuts???' And they aren't even cuts. It is a reduction in the asked for increase.
The will have MORE money this year then last year.
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