[Responsibility2nd]

Also FTA: All told, we’ve seen $86 billion of deficit reduction in the first four months of fiscal 2013—which is almost exactly the amount the sequester hopes to achieve.

[lurk]

We will still have a yearly deficit well over 1 trillion. A reduction of $85B is like a morbidly obese person losing a few ounces.

Everyone in Washington deserves a punch in the head for their cowardice, selfishness and corruption. And then one in the head for the voters who put them there.

[kabar]

Deficit reduction thru tax increases. 2013 will see $2.7 trillion in revenue, the highest in history. However, spending from the entitlement programs and other mandatories is also increasing.

The biggest factor in deficit reduction is the CR. Government spending on the discretionary part of the budget has essentially been frozen for almost two years.

We need to cut spending by more than $84 billion a year.

[Vince Ferrer]

And how many planes have fallen out of the sky because of this?

[Gandalf_The_Gray]

Consider this. We’ve had sustained, significant job growth for nearly three years. In January 2013, there were 2.06 million more people with payroll jobs than in January 2012, according to the Bureau of Labor Statistics. That’s more people working, at slightly higher wages, and paying taxes at higher rates. What do you get? More money.

Check out the Treasury Monthly Statement for January. Through the first four months of fiscal 2013 the government has collected $468 billion in individual income taxes, up 15.8 percent from $404 billion in the first four months of fiscal 2012.

If I read that correctly, Obama is a freaking genius! He creates new jobs by the millions by hiring new government drones. He pays them well beyond the private pay scale. Then taxes their income, creating a new revenue stream, which he claims is reducing the deficit!

Sheer genius! I guess it's true, we can get rich by "taking in each others laundry."

I'm sure he's considering using the "extra" revenue to hire even more government employees, thereby reducing the deficit further still. As the Red Queen said to Alice "you see, it takes all the running you can do, to keep in the same place", in this case approaching the swirling drain...

Regards,
GtG

[Zuben Elgenubi]

General Motors still owes the government $25B from the original $50B in TARP funds. How about getting GM to pay that $25B back.

$25B is about 30% of the $85B sequester.

[Blackirish]

Anemic,weak, sporadic, low paying job growth....fixed it. The whole were finally turning the corner has been magical thinking. Remember recovery summer?

160,000 or so jobs a month sucks. We have less people in tHe work force then when the one took office. Besides the evil oil companies and the Federal government no one is hiring.

[DustyMoment]

The Greatest Sequester Lie of All: We’ve Already Saved $84 Billion!

Does this mean that zero or his husband won't take any more "vacations" for the neaxt 4 years!??

[Vendome]

Through the first four months of fiscal 2013 the government has collected $468 billion in individual income taxes......

Brilliant!!!!!

Whut wonderful reporting

Idiot Savante