Skip to comments.$253.5B—Obama Borrowed Nearly 6x as Much in February as Sequester Cuts All Year
Posted on 03/04/2013 4:01:05 PM PST by Olog-hai
During the month of Februaryas President Barack Obama was warning Americans they would see dramatic effects in their lives if sequestration of some planned federal spending kicked inthe federal governments debt climbed by $253.5 billion.
That one-month increase in the debt was nearly six times as much as the $44 billion in spending cuts the Congressional Budget Office estimates will take place in all of fiscal 2013 as a result of sequestration.
(Excerpt) Read more at cnsnews.com ...
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The only guy I’ve seen making a decent argument against this in the media was Rick Santelli on CNBC.
90 seconds with a white board and he shredded the whole Baraqqi charade.
WTF are Republicans?
Where are the Republicans indeed. We ought to be making Barry look like the fool that he is.
Republicans are accomplices.
who knows? playing golf? There is no one in the government that is effectively exposing this charade. The good ones are not effective speakers and the rest are RINOs. Thus we have nobody.
The borrowing is used to pay for everything, including Medicare and Social Security. Those programs are "paid for" by borrowing and taxes on current workers.
The Sequestration only cuts discretionary spending - and hits Defense the hardest.
What college did this president go to again?
Just a few years ago it would take an entire year for FedGov to run up that much debt - $253B. Now it only takes one month.
You folks just do not appreciate the economic genius of Obamanomics. Read this and learn:http://bogpaper.com/2013/03/04/marx-on-monday-obama/ It deserves its’ own thread but I don’t know how to post one.
Instead of punishing our war-fighters, the good folk who fix their planes, and fulfill essential Federal jobs, and essentially gutting our national defense...
How about we cut funding to international countries that want to kill us? Why is it we can RIF soldiers, but Palestine is sacred? Why is it we can cut Federal Workers by 20%, but we can’t cut funds to Egypt, Syria and the rest of the Middle East?
It’s not like they like us anyway - they have no friendship with us. How about we let THEM provide for themselves?
I have seen this strange unwillingness to face financial facts in one other group of people in my life...
I beg to differ. When you borrow 40% of what you spend, then have to cut it back to 37.5%, you merely borrowed less money. Unless you lower taxes, you didn't put one dime back into the pocket of the private citizen. In fact, because the borrowed money wasn't paid out to government employees, one could argue there will be less money in the economy (short term). The damage being done is long term.