by Rod R.
1. Summer of 2011 the President and some in Congress wanted to increase the debt limit despite the fact that we are massively, dangerously in debt and federal government spending is out of control.
2. In exchange for the increase, a promise was made to cut spending by 1.2 – 1.5 trillion over ten years. A drop in the proverbial bucket.
3. To ensure that the cuts would actually happen, a penalty was imposed that would be equally onerous to both Democrats and Republicans IF the cuts didn’t happen. That penalty – also called the sequestration – was automatic cuts of 1.2 trillion to defense and domestic budgets over 10 years starting 2013. Remember, those cuts were supposed to be so scary that Congress would surely come up with their own cuts.
4. A committee was appointed to find the cuts. They didn’t.
5. After a year and a half to find and agree on the cuts, the cuts still didn’t happen. Shocker.
6. Now the automatic sequestration cuts are scheduled to begin in March.
7. Rather than dealing with the real problem – spending – the Dems and the GOP are pointing fingers at each other. Yet another shocker.
8. Even IF the cuts were made on time to avoid the sequestration – and they won’t be – they would not be significant enough to even come close to getting us out of a long-term debt crisis that will do irreparable damage to our country.
9. Assuming Washington allows the sequestration cuts to begin in March, there is no reason to believe that actual net cuts to spending will take place over ten years or that the deficit will shrink significantly or that the debt as a % of GDP will ever stop growing. That’s a very bad thing. The results will not be pretty.
10. Lest we cast all the blame on Washington “leadership” let’s remember who put them there – We The People. And unless We The People decide to put fiscally responsible leaders in Washington we will continue to whistle our way through the graveyard and eventually bury ourselves.
**This editorial was written by a guest writer, Rod R. referring to events detailed in This is Why We Prepare.**