Oh the humanity. The sequester will destroy the economy. Seven hundred thousand will be laid off. It will cause huge delays at airports. Police, firemen and teachers will lose their jobs.
Size of current government spending in the U.S., including states and large cities: $4,800 billion ($4.8 trillion).
Size of budgeted increase of government spending, including states and large cities before sequester: $230 billion - up 4.8 percent over last year.
Size of increase of government spending, including states and large cities after sequester goes into effect: $185 billion - up 3.85 percent over last year.
Official inflation at this time is under 2 percent per annum. U.S. population will increase a little under 1 percent, meaning spending will go up faster per person even with the sequester. For your information: Federal spending only also will rise faster per person after the sequester, which really is closer to $40 billion.
Once again, President Barack Obama lies. The left propaganda machine goes to work and a little more of your earnings are taken away.
Don't hesitate for a second that even if this sequester goes into effect Washington will find some reason to pad the budget by a greater amount within the year, as it did with the case of Hurricane Sandy.