The entire sequester would have reduced last year’s deficit from $1.33 trillion to $1.24 trillion. Nonetheless, insists Obama, such a cut is intolerable. It has to be “balanced” — i.e., largely replaced — by yet more taxes. Which demonstrates that, for Obama, this is not about deficit reduction, which interests him not at all. The purpose is purely political: to complete his Election Day victory by breaking the Republican opposition.But he cannot win if nothing bad really happens. Indeed, he’d look both foolish for having cried wolf. Obama’s incentive to deliberately make the most painful and socially disruptive cuts possible (say, oh, releasing illegal immigrants from prison) is enormous. Psst, a 2011 Government Accountability Office report gave a sampling of the vastness of what could be cut, consolidated and rationalized in Washington: 44 overlapping job training programs, 18 for nutrition assistance, 82 (!) on teacher quality, 56 dealing with financial literacy, more than 20 for homelessness, etc. Total annual cost: $100 billion-$200 billion, about two to five times the entire domestic sequester.
As I said Sam, phkn clueless. I know - I blame Bush- yawn.