CBO: Obama's Sequester Plan Only 1.2% Reduction in Planned Spending
In his State of the Union Show, Our Scaremongering Big Spender in Chief said, "These sudden, harsh, arbitrary cuts would jeopardize our military readiness. They’d devastate priorities like education, and energy, and medical research. They would certainly slow our recovery, and cost us hundreds of thousands of jobs.”
The CBO, in its Budget and Economic Outlook report issued on Feb. 5, explains that the sequester, a package of automatic spending reductions, would amount to only $44 billion in cuts in 2013, a mere 1.2 percent of total spending. The CBO estimates that with the sequester in place, federal spending will be $3.553 trillion in 2013 instead of $3.597 trillion.
Not even a drop in the bucket. The federal budget needs to be reduced by at least 10% per year over the next 3 years.
First off, my calculations are much less. This years budget has an increase in spending. It is close to $ 3.5 trillion dollars in spending. This years cuts amount to around $ 22 Billion. That is for this year. My calculations have it as around a .62 % cut in spending. Now Obama's own CBO has reported that it would be easy to cut over $ 1 Trillion in spending just by cutting out waste due to duplications in services etc. The left is lying about all the jobs, services etc. that would be eliminated. Some of the services, and salaries they say would be eliminated like teachers, and firemen are not even paid for by the fed. govt.