The CBO report on the Senate’s sequester bill, S.388, is balanced if you consider unhinged as balanced:
It will eliminate automatic spending reductions for 2013 and some for 2014. It’s a kick-the-can approach.
People who make $5 million or more must pay at least 30% on their income federally. Another step towards killing Capitalism.
The best part is:
CBO and the staff of the Joint Committee on Taxation (JCT) estimate that enacting the bill would increase budget deficits from changes in direct spending and revenues by $7.2 billion over the 2013-2023 period. Because enacting the legislation would affect direct spending and revenues, pay-as-you-go procedures apply.
Pay-as-you-go applies? Seriously? Anytime the GOP tries that, the Dems wipe the floor with them.
Democrats are virtually incapable of cutting a thing because they think it keeps them in office.
They want to avoid sequester by raising the deficit. Obama wants to get rid of the debt ceiling altogether so he can spend us into bankruptcy.