Proposed budget by Obama for 2013 (and since no budget gets past just continuing resolutions for spending he gets what he wants) … 3.8 TRILLION dollars in spending.Projected revenue (including that wonderful tax increase on the rich) 2.6 trillion.Estimated deficit spending 1.2 trillion.
sequestration cut in projected deficit spending – 85 billion dollars.sequestration percentage of total proposed budget 2.2%of projected deficit 7%if sequestration happens, it will take zero dollars away from the mandatory spending in the “budget”If sequestration happens it will reduce the “DEBT” by zero dollars.If sequestration happens it will reduce the deficit by 7%http://useconomy.about.com/od/usfederalbudget/p/Discretionary.htmhttp://useconomy.about.com/od/glossary/g/mandatory_spend.htmhttp://usbudgetalert.com/spending.phpHalf the amount will come from defense, so only about 44 billion will come from discretionary “social” budgets items.Let it happen. Remember the president’s words. shared sacrifice. balanced approach Make the cuts. THEN reform the tax code and stick it to all the corporation welfare recipients by deleting every last “loophole” and “deduction” and make it a “fair” tax where every single person that has income of any kind contributes “X” percent (I suggest 15). What?