The con is in, and virtually every congressional leader and all of the White House is participating. You have heard about draconian cuts in the defense budget, about furloughs, layoffs, long waiting lines at airports, late welfare checks. Here is the truth, plain and simple:
The sequestration cuts approximately 44% of the scheduled increases in the various budgets. The most often heard number is an $85 billion cut in a $3.8 trillion budget. That calculates to a percentage cut of 2.24% of the total budget, but since the budget is automatically scheduled to grow by approximately 5%, it should be obvious to anyone that the sequestration of $85 billion – less than one-quarter-of-one-percent of the total budget – does not result in draconian cuts. The scheduled automatic increase is being reduced by 44%…that’s it…period! Remember, this is a 44% reduction in expected increases, NOT the current expenditures.
As I said, the con is in!