This morning The Fix by Chris Cillizza included this interesting post by Aaron Blake. Blake posted four great graphics explaining the impact of the sequester. I am going to copy 2 of them here, but you should look at the entire post.
First up is Pew’s illustration of the year-by-year spending cuts that are included in the sequester. As you can see, the cuts start out relatively small — less than $75 billion in 2013 — but they grow to more than twice that size by 2021, for a total of more than $1 trillion.
The biggest growth in cuts over that time occurs in the interest payments, but everything except for mandatory spending cuts grow steadily over time.
And then there is this depressing news. Sequester will not have that big of a positive impact.
There has to be a better way. Maybe spend some money to put people back to work and let them pay taxes thus increasing revenue? And we do have to fix the tax code so Facebook executives actually pay taxes. And maybe we can cut programs and defense more selectively. This won’t be as dramatic, and it might be slower, but it will hurt fewer people.
Meanwhile, members of Congress of both parties are doing their best to keep funding for their own districts. Politico quotes Senator Lindsey Graham, an opponent of the sequester
I’m almost relishing the moment all these tough-talking guys say: ‘Can you help me with my base?’” Sen. Lindsey Graham (R-S.C.), one of the most vocal critics of the sequester, told POLITICO.
“When it’s somebody else’s base and district, it’s good government. When it’s in your state or your backyard, it’s devastating,” he added.
Of course Graham’s solution is to do away with the Affordable Care Act or Obama care. Is the momentum swinging toward a rational budget and solution? Probably not.
- Lindsey Graham: To Avoid 7.5% Cut in Military Budget, Let’s Kill Obamacare (littlegreenfootballs.com)
- Sen. Graham: To Avoid Sequestration, Put Obamacare On The Table Of Cutbacks (washington.cbslocal.com)
- GOP hawks sound alarm on sequester (thehill.com)
- Wonkbook: The sequester is a week away (washingtonpost.com)