The Sequester Should Be Embraced, not Feared


Mike:

This seems like the only way to get any sort of handle on excessive – abusive – federal government spending. I like this line.

The looters and moochers in Washington are increasingly agitated by the prospect of sequestration.

As you can see in the graph below spending keeps increasing. Honestly, it’s a free-for-all with special interests begging for money for war to money for the poor, against the people who pay the bills. How did we get to this point? And more important, how do we solve this problem?

Originally posted on International Liberty:

The looters and moochers in Washington are increasingly agitated by the prospect of sequestration.

Automatic budget cuts, we are told, will indiscriminately slash vital programs and undermine economic growth by reducing government spending.

This is utter bunk. I would like to “slash vital programs,” but the chart I prepared earlier this week shows that the federal budget will expand by $2.4 trillion if a sequester occurs.

So the net effect of sequestration, as I explain in this Larry Kudlow segment on CNBC, is that the federal budget won’t expand by $2.5 trillion.

I did this interview from London, by the way, where is was past midnight, so I hope you’ll forgive me for looking a bit groggy at the very beginning.

But I think I did a decent job once the juices started flowing, though it’s hard to have an argument with someone who still believes in the snake-oil…

View original 671 more words

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About Mike
A resident of the “30 square miles surrounded by reality,” I spend most of my time teaching economics and statistics to undergraduate students. I enjoy, naturally, economics and business, but also science (I was once an astronomical observatory assistant), politics, photography, food, travel and sports. Madison has grown quite a bit since 1978 when Governor Lee Dreyfus made that remark. According to Wikipedia, Madison is 67.3 square miles of land and 16 square miles of water. Visit http://thisgotmyattention.wordpress.com/about/ for one of my favorite views of the isthmus. Or, why not come visit us! http://visitmadison.com

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