Photo Credit: Allison Harger At the end of 1995 and stretching into January 1996, the federal government “shut down” because of an impasse between President Clinton and House Republicans led by then-Speaker Newt Gingrich. The issue was increased taxes vs. less spending. Sound familiar? The government re-opened when a bipartisan agreement was reached to balance the budget by 2003. It wasn’t balanced by then, for reasons that included but were not limited to two wars. Now the national debt is racing toward an unsustainable $17 trillion.
This time around it isn’t about closing government. It’s about “sequestration,” which President Obama, the Democrats and their big media toadies are styling as economic Armageddon.
On Tuesday, following another vacation and a round of golf with the disgraced Tiger Woods, Obama appeared in the Eisenhower Executive Office building next to the White House. Behind him on risers, looking like a church choir but without the robes, was his usual Greek chorus of potential victims should Republicans cut spending by a single dollar.
The president said the cuts from sequestration would be “brutal” if lawmakers allow “this meat-cleaver approach to take place.” Military readiness would be hurt, he claimed, if these cuts were allowed to happen. Investments in energy curtailed, medical research impaired, teachers laid off (I wasn’t aware the federal government paid teacher salaries) and emergency responders couldn’t respond.
Once again, the president offered up the old bait and switch: “targeted spending cuts” along with “closing tax loopholes.” As has happened before, if Republicans agree to this (and they had better not if the party is to survive) they’ll likely get inconsequential “cuts,” if any, but tax hikes will occur right away. More importantly, any new revenue will likely not reduce the debt because Democrats in Congress are noted for spending new revenue and they won’t deal with the major reason for the debt: entitlements.
Read more from this story HERE.