Letter to the Editor: Excellent example
BY Gene Zavodny, Tulsa
Wednesday, March 06, 2013
3/06/13 at 7:52 AM
The March 1 sequestration is an excellent demonstration of how dependent our society has become on deficit spending by the federal government. The sequestration calls for a reduction in federal spending of $85 billion this year, which is less than 2.5 percent of the total federal spending of about $3.6 trillion. Of this total, about $1 trillion will have to be borrowed, as has been the case for many years now.
The Obama administration has put on a full-court press to complain how devastating the sequestration will be to the economy. Much of the media seem to have fallen for these complaints hook, line and sinker. What is going to happen when, or if, the federal government actually tries to balance spending with income?
By the way, President Obama signed the sequestration into law as a means of kicking the can down the road until after the 2012 election. Now he pretends it is the fault of Congress alone.
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