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Friday, March 1, 2013
The media are once again attempting to scare everyone with fears relating to the sequestration. Sen. Mark Warner, whom I previously respected, talks about “people having to wait five hours to get through an airport line” due to budget cuts to the Transportation Safety Administration.
The $85 billion in spending cuts to defense and domestic programs amounts to just 2.4 percent of the federal budget, which was $3.54 trillion last fiscal year.
The U.S. is supposedly pulling back on at least one war the country has been involved in for more than a decade. As such, prudent fiscal management would curtail the military budget. Despite fears that the U.S. will be unprotected and become a second-rate military power, the budget for the U.S. military will still be greater than that of the next 13 nations combined.
The Transportation Security Administration is a large federal agency. One would think it could be run more efficiently.
Quantitative easing to infinity, carried out by the Federal Reserve, is currently resulting in printing $85 billion in new money every month. The $85 billion in spending cuts in the sequestration hype amounts to only one month of current Fed money printing.
Enough with the scare tactics.
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