While Debt Crisis Looms, Washington Still Focused on Undoing Sequestration
Obama has so many distractions going on that he gets away with everything and somehow always gets to do what he wants.
Check it out:
Lawmakers are on track to bargain away the one spending cut they got.
The Washington Post reports that President Obama and a group of Republican Senators stalled on a budget deal on Thursday that revolved in part around the question of how to best renege on sequestration. Republicans want to offset the spending cuts in discretionary spending with “narrow” reforms to entitlement programs, while the Obama Administration insists on more tax increases.
Instead of trying to find an agreement to reverse the minuscule reductions (2.5 percent of projected spending over the next decade) to spending they already traded for a massive increase in the national debt, lawmakers should focus on fixing the real and worsening problem that has brought Washington to reach the debt limit yet again.
When lawmakers return to Washington on September 9, they will have nine days to come to an agreement on the spending level for the discretionary budget that funds government agencies. Lawmakers can protect national defense from bleeding further because of sequestration without putting taxpayers on the hook for even more discretionary spending. As the accompanying chart shows, discretionary spending will grow 17 percent—even with sequestration in place.