Fear not. As always in Washington when there is talk of cutting spending, most of the hysteria is baseless. …
More troublesome are the cuts in defense, but for security not economic reasons. The sequester cuts the Pentagon budget by 7%. This fits Mr. Obama’s evident plan to raid the military to pay for social programs like ObamaCare.
But at least high priorities such as troop deployments are exempt from the cuts. And there is waste in the Pentagon: Start with the billions spent on “green energy” programs at DOD, bases that are no longer needed, and runaway health-care costs. Mr. Obama could work with Congress to pass those reforms so as not to cut weapons and muscle, but he has refused.
The most disingenuous White House claim is that the sequester will hurt the economy. Reality check: The cuts amount to about 0.5% of GDP. The theory that any and all government spending is “stimulus” has been put to the test over the last five years, and the result has been the weakest recovery in 75 years and trillion-dollar annual deficits.