Both parties in Washington D.C. are desperately attempting to avoid the sequester โspending cutsโ that they passed with a bipartisan majority only a short time ago. The warnings of coming apocalyptic results should the โcutsโ not be repealed are laughable.
Each party is defending its sacred cows. But whatโs really getting cut? The short answer is nothing. If the sequester ultimately prevails, total spending will increase on average 4.8% for the next eight years, as opposed to 4.9%. Total spending doesnโt decrease in any single year under the sequester framework. Read that last sentence again in case you missed it, NO SPENDING CUTS only a deceleration in spending growth. But even after the politicians agreed to these cuts they canโt bear to see them go through. Thatโs just the kind of leadership we have come to expect out of Washington D.C.
