My new piece starts this way:
President Obama is almost breathless predicting "devastating" consequences if the sequester trigger is pulled.
He warns the cuts "will hurt our economy ... add hundreds of thousands of Americans to the unemployment rolls. ... The unemployment rate might tick up again."
But will a $44 billion cut in spending out of a $3.8 trillion budget, a mere 1%, really be a "meat cleaver approach" that will "eviscerate" government programs?
Obama frightens people by pretending that the $1 trillion cut takes place right away rather than being spread out over 10 years.
He has taken almost every possible position on spending and taxes. During the 2008 presidential campaign, Obama continually promised to "cut net spending" and make government smaller. The stimulus was promised not to "raise projected deficits beyond a short horizon of a year or at most two." . . . .
Labels: deficits, keynesianism, ObamaDishonest, op-ed