Much ado about nothing. Cut or die, punks.
Excellent clip. Bloomberg exposes the myths about the so-called sequester cuts.
These are spending caps on future growth NOT spending cuts.
A Modest Proposal
A SEQUESTER EVERY 6 MONTHS
Seriously, how you can you not LOVE the sequester when the defense industry takes the majority of the hit. We should have one every 6 months for 5 years or however long it takes until the budget is finally f#$%*&*#king balanced. Let the miserable hacks in Washington figure out the details, but the basics would be the same every 6 months.
Cut or die, punks.
In 3 years the debt will be $20 trillion.
Slap a normal 5% financing cost and you get $1 trillion in annual interest.
We only collect $2.5 trillion now.
That means interest on the debt will be approximately 40% of total tax receipts.
That's when the real fun will begin.
The U.S. government borrows $3 million per minute.
By the way, I'm still waiting for Keynesian acolytes to point out the supposed 'savage austerity' after 5 straight years of trillion-dollar deficits.
We borrow $50,000 dollars EVERY second from future generataions.
We wouldn't know austerity if it bit us on the nut sack.
Happy Sequestration Day