Sequester 101
By Tom Quiner
Question: Why did Standard & Poors downgrade the U.S. credit rating under President Obama?
Answer: We failed to take steps to change our financial path, which is leading to rapidly expanding debt, with corresponding increasing interest payments. Higher debt and higher interest payments weakens the financial footings of the government.
Question: Why are our annual deficits and the national debt growing so quickly?
Answer: President Obama and his party created a new entitlement, Obamacare, which is now projected by the CBO to expand deficits as far as the eye can see. They passed new stimulus spending. Spending has dramatically increased at every level of government. In addition, revenues have been stagnant due to the Obama economy and high unemployment rates, which suppresses revenue.
Question: Who came up with the idea for the sequester (automatic spending cuts)?
Answer: President Obama.
Question: Who signed automatic sequesters into law?
Answer: President Obama.
Question: Now the president says the sequester will ravage our economy. Is this true?
Answer: The automatic cuts aren’t well-targeted. Republicans have offered a number of plans to implement them more responsibly, but the president threatened to veto these attempts.
Question: What is the Democrat’s solution?
Answer: Another round of tax increases.
Question: Don’t tax increases also hurt the economy?
Answer: Yes.
Question: If the sequester spending cuts are so draconian, will they at least help to get our national debt under control?
Answer: No. For all the president’s wailing and gnashing of teeth, the difference is minute. The CBO says the public debt will be $14.54 Trillion by 2021 using current budgets and projections. If the sequester takes place, public debt drops to $14.38 Trillion. The chart above puts the numbers in perspective.
Good post, Tom.
As basic as your “Intro-to-Current-Events-for-people-who-think-Kim-Kardashian’s-love-life-qualifies-as-a-Current-Event” is,
the TRULY scary part is that the vast majority of our country could not answer enough of your questions to achieve a passing grade.
And THAT scares (& depresses) me more than TEN Sequesters…
Thank-you. Sometime we have to simplify the subject to barebones simplicity. That is what I attempted to do with this piece. What hit me more than ever is the need to get entitlements under control. Despite sequester cuts, the long term debt outlook remains grim, unless we do something about Medicaid, Medicare, Social Security, and now, Obamacare.
Very grim, indeed, partner.
Hey, quick question: can you put a Twitter “share” button up, so it would be easier to Tweet your stuff out? Currently, I have to copy the URL, paste, then go back and copy, the title, paste, etc.,…
I know you’re on Twitter, so I think it would be something others would use, too.
Thanks, Tom!
😉
Let me show my ignorance, how do I put up a Twitter “share” button? Do I do it from WordPress or Twitter?
No prob, partner.
Do this first:
http://en.support.wordpress.com/publicize/
Then, after you’ve linked your Twitter account, you’ll need to add the Twitter button, so it will appear on your posts:
http://en.support.wordpress.com/twitter/twitter-tweet-button/
That should set it up completely. One thing to look for: if you go to your own post, and hit the “Tweet” button, your post title, URL and YOUR Twitter handle should appear.
If it’s the generic @wordpress.com Twitter address, drop me a line and we’ll fix it.
Thanks for the help. I think we got it.
Just tried it out.
PERFECT!
Will make it much easier, plus you can track how many times your post gets Tweeted from here and from your Stats page.
Glad it worked for you, Tom.
Dynamite post on sequester.
Wordpress has a twitter button. I’d love to use it for this too! I’ll link it anyway but the button makes it easier.
Thanks for such a simple bullseye post!