The Sequester is yet another government-manufactured crisis of spending cuts due to go into effect on March 1, 2013. Despite the fact that it was the “brain child” of the Obama White House, the president and friends are “angrily denouncing” the cuts and pointing the finger at the GOP.
If the government spending cuts are realized, they will result in hundreds of billions of dollars of “revenue” lost, as illustrated in the chart here:
Guy Benson from Townhall has laid it all out masterfully. Although the 2011 debt deal was proposed by the White House and voted upon by both parties, President Obama is rallying against the cuts that he himself signed into law. After a weekend of golfing with Tiger Woods, Obama did a bit of fear mongering. He said, “These cuts are not smart, they are not fair, they will hurt our economy, they will add hundreds of thousands of Americans to the unemployment rolls.” He explained that “Federal prosecutors will have to close cases and let criminals go,” due to the cuts and “FBI agents will be furloughed.” So why did the White House propose these cuts in the first place if they were so terrible?
As Benson notes, “If he [Obama] honestly believes the sequester will set violent criminals loose to terrorize the public, perhaps he should have thought about that consequence when he signed it into law.”
Not only did the White House initiate the cuts, President Obama “threatened to veto Republicans’ attempts to make the cuts more responsible and targeted.” Republicans “offered several rounds of offsetting cuts, all of which have been dismissed by Democrats.” Obama said,
“My message to them is simple: No. I will veto any effort to get rid of those automatic spending cuts to domestic and defense spending. There will be no easy off ramps on this one.“
To summarize, 1.) Obama and friends propose the massive tax cuts that will apparently result in criminals running free, 2.) Obama signs the cuts into law after threatening to veto any GOP effort to make the cuts more responsible, then, 3.) when the cuts are looming, the president goes golfing with Tiger Woods and returns to publicly denounce the GOP for the spending cuts that he proposed and for which both parties voted.
What is the President now proposing? That Republicans respond to the cuts with more tax increases.
Image Source: Town Hall