“To save America from the supposedly ‘savage’ and ‘draconian’ budget cuts caused by sequestration, President Obama has instead asked Congress to approve an alternative fiscal package containing additional tax increases. So why is the sequester so bad? Does it slash the budget by 50 percent? Does it shut down departments, programs, and agencies? Well, the Congressional Budget Office today released its annual Budget and Economic Outlook, and Tables 1-1 and 1-5 allow us to see the ‘brutal’ impact of the sequester. As you can see from this chart, the sequester will ‘cut’ spending so much that the budget will grow by ‘only’ $2.4 trillion over the next 10 years.”
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