TruthOut10
Active Member
- Dec 3, 2012
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Barring a last minute Congressional compromise, $85 billion in automatic across-the-board cuts will go into effect in the next 72 hours as a result of the sequester mechanism included in the 2011 Budget Control Act.
Republicans many of whom voted for the BCA and have for years championed deep spending reductions are hoping to blame the Democrats and President Obama for the consequences of the cuts, claiming that if bad things happen as a result of sequester, its because [Obama] wants them to. As the nation moves closer to the March 1 deadline, here is your guide to the GOP spin on the sequester:
1. We need spending cuts to get the economy going. The GOP claims that government spending is out of control and reason that reducing spending would spur greater economic growth. But government expenditures have grown at its slowest pace since the Eisenhower administration under President Obama and the latest projections from the Congressional Budget Office show that the nations deficits have shrunk by trillions of dollars, and the debt is close to being stabilized as a percentage of the economy. Austerity measures have dragged down economic growth in Europe and some economists argue that sequestration wont actually lead to substantial shrinking of the deficit, since fiscal contraction caused by sequestration is likely to slow economic growth, reducing tax revenue and preventing meaningful deficit reduction.
Why Everything Republicans Are Saying About The Sequester Is Wrong | ThinkProgress
Republicans many of whom voted for the BCA and have for years championed deep spending reductions are hoping to blame the Democrats and President Obama for the consequences of the cuts, claiming that if bad things happen as a result of sequester, its because [Obama] wants them to. As the nation moves closer to the March 1 deadline, here is your guide to the GOP spin on the sequester:
1. We need spending cuts to get the economy going. The GOP claims that government spending is out of control and reason that reducing spending would spur greater economic growth. But government expenditures have grown at its slowest pace since the Eisenhower administration under President Obama and the latest projections from the Congressional Budget Office show that the nations deficits have shrunk by trillions of dollars, and the debt is close to being stabilized as a percentage of the economy. Austerity measures have dragged down economic growth in Europe and some economists argue that sequestration wont actually lead to substantial shrinking of the deficit, since fiscal contraction caused by sequestration is likely to slow economic growth, reducing tax revenue and preventing meaningful deficit reduction.
Why Everything Republicans Are Saying About The Sequester Is Wrong | ThinkProgress