President Obama and other so-called progressives insist that the American people are not overly dependent on government. They also predict dire consequences if the automatic budget “cuts” known as sequestration take place March 1.
Both claims cannot be true. If modest across-the-board “cuts” — mainly cuts in the rate of growth — in military and domestic spending pose a threat to the American people and the U.S. economy, then the country is alarmingly dependent on government.
Federal spending has grown dramatically since the 1970s, with the biggest increases coming during Republican administrations. Spending today is hundreds of billions greater than in 2008 and much higher as a percentage of the economy. True, it is lower now than in 2009, but that year, a combination of George W. Bush and Obama “stimulus” spending, set a record.
The sequester consists of $1.2 trillion in across-the-board cuts in non-entitlement spending growth over ten years. To put that in perspective, Reason editor Nick Gillespie writes, “Remember that we’re talking about $1.2 trillion dollars taken out of a projected $44 trillion or so in spending. What kind of budget discipline is that?”
As that March 1 sequester approaches, the Obama administration warns of severe consequences for national security and economic security.
For more on this story, visit: The American People Need Real Spending Cuts The Future of Freedom Foundation.
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