Obama Vetos Himself on Sequestration

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.

There is an estimated 44 billion in improper medicare payments yearly.

The federal reserve  prints $85 billion per MONTH and props up Wall Street with it.

Bob Woodward: Obama is Lying About the Sequester

Bob Woodward, leftie journalist of the Washington Post, in a “random act of Journalism”, has revealed the detailsabout the origin of the ‘sequester‘, which Obama is currently blaming on the Republicans.

Jack Lew and Obama cooked up the ‘sequester‘.  It’s automatically triggered reduction in projected spending, which was to prevent Obama from having to negotiate the issue during the campaign.

Says Woodward: “The president and Lew had this wrong. My extensive reporting for my book “The Price of Politics” shows that the automatic spending cuts were initiated by the White House and were the brainchild of Lew and White House congressional relations chief Rob Nabors — probably the foremost experts on budget issues in the senior ranks of the federal government.Obama personally approved of the plan for Lew and Nabors to propose the sequester to Senate Majority Leader Harry Reid (D-Nev.). They did so at 2:30 p.m. July 27, 2011, according to interviews with two senior White House aides who were directly involved.”

Do click on the paragraph above.    You will find out that  Bob Woodward is still a good leftie reporter, working for the Washington Post.  Hecouldn’t dance to the media tune, because Obama’s lie contradicted what he had already written in his own book.
Woodward still thinks that Obama is right to insist on more taxes and, most particularly taxing the rich, but he’s not going along with the lie that the Republicans invented the ‘sequester’.

By the way, the sequester is puny, not enough reduction in spending, and will not cause the projected disasters because very little money is involved, as a percentage of total spending. Since the sequester is Obama’s idea, it does contain disproportionate reductions in projected military expenditures, when compared to government dependency programs.

Pelosi Unwilling to have Congress Partake in the Economic Decline They Have Given to Us

Pelosi opposes the Congressional pay cut which  would accompany the relatively minor spending reductions of the ‘sequester’.

“I don’t think we should do it; I think we should respect the work we do,” Pelosi told reporters in the Capitol. “I think it’s necessary for us to have the dignity of the job that we have rewarded.”

via Pelosi: Congressional pay cut undermines dignity of the job – The Hill.