Obama and cronies invented this sequester, and he threatened to veto any bill which interrupted the automatic reductions in planned spending. PRESIDENT OBAMA:“Already, some in Congress are trying to undo these automatic spending cuts. My message to them is simple: No. I will veto any effort to get rid of those automatic spending cuts to domestic and defense spending. There will be no easy off ramps on this one. We need to keep the pressure up to compromise – not turn off the pressure” Obama signed the Sequester bill on August 2, 2011, and this LAW started cutting in 2012. It scheduled additional reductions (totalling 1.2 trillion) yearly over 10 years, with $85 billion in reduction planned for 2013. The president has a great deal of discretion in determining where the cuts will be.
Now Obama has turned against this plan that he originated way back in 2011, and is blaming it on the Republicans.
Sequestration amounts to about $85 billion reduction in the spending increase slated for this year. One half of that is for the defense dept. It means that spending for the affected areas will only go up about 6-8 percent instead of going up 8-10 percent as baseline budgeting dictates.
To put this 85 billion sequestration for 2013 in perspective:
The government spends $3.5 trillion per year.
The government spent $50 billion on Tropical Storm Sandy relief.
The government spent $30 billion on extension of unemployment.
This is HUGE NEWS, sez the mainstream media. These are the same newsguys who ignore hundreds of thousands gathered in Washington DC every January in the freezing cold to protest abortion. Over a hundred thousand more followed the event online in a virtual march.
But these global revolutionaries are a much biggerdeal!. There was a puny crowd gathered in New York and between 4 and 5 thousand people watching the live stream online- WORLD WIDE. Running chat rooms had to be flushed out because many of the watchers were there to make fun of the global revolutionaries. Moderators at the live stream chat asked for links and no more free form comments. The little group of protesters in New York were repeating recitations by a leader, about five words at a time – more boring than watching Obama read the teleprompter, left…right… left… right.
But remember — this is a BIG DEAL, and those pro-life marchers who have been at the massive January rallies for DECADES are to be ignored by the media, which knows what is important and what is not.
Here’s Obama when he wanted your vote…. remember this? He was going to erase the evil of astronomical CEO salaries.
When Obama had a chance to regulate the pay of his very OWN Government Motors CEO…… $9 million, has just been approved, plus hiring him a helper, at almost $3 thousand per hour because, as you remember, Ed Whitaker ‘doesn’t know a thing about cars’!
Check out this video of Obama carrying on about the wall street CEO bonuses, telling them to cut their own pay.
Then watch February news as he changes his mind……. well, those bonuses are suddenly OK again. There’s also the pretense from the Obama-press that using stock to pay the bonuses is something new. Those of us who have ever read business news know better.
Lefties, it appears that Obama is not going to solve your bonus-envy issues after all.
Why don’t you go buy some stock in the offending companies and show up at the shareholder’s meetings?