by Mitch Kokai
Senior Political Analyst, John Locke Foundation
As politicians decry cuts associated with the federal budget sequestration, John Stossel‘s latest column reminds us about an important fact: There is no cut in federal government spending.
The truth is that the terrifying sequester cuts weren’t even cuts. They were merely a small reduction in government’s planned increase in spending. A very small reduction.
After a decade, the federal government will simply spend about $4.6 trillion a year instead of $4.5 trillion (in 2012 dollars).
And still members of Congress, Republicans included, look for ways to delay the cuts, like spreading them out over 10 years instead of making any now. Sen. Rand Paul, R-Ky., asked, “If we cannot do this little bit … how are we ever going to balance the budget?”
Actually, we don’t even need to balance the budget. If we just slowed the growth of government to 1 or 2 percent a year, we could grow our way out of unsustainable debt.