The Sequester is the Republicans’ Fault

Everybody’s going to hate it when the sequester cuts 700,000 jobs next week, so Republicans are, understandably, trying to win the blame game.

The problem for them is that it’s completely their fault.

Think back to why we have the sequester. The sequester cuts were supposed to kick in only if the Supercommittee negotiations failed.

Think back to why the Supercommittee negotiations failed. It failed because Republicans were negotiating in bad faith, with Pat Toomey trying to pretend a huge regressive tax cut was a deficit reduction plan.

Think back to why we did the Supercommittee. The Supercommittee was the price Republicans demanded in exchange for raising the statutory debt ceiling.

The fake debt ceiling crisis of 2011 was the origin of this whole thing. If Republicans hadn’t held the debt ceiling hostage for policy concessions for the first time ever (“Boehner Rule”) then there would be no sequester cuts coming next week.

It’s the Republicans’ fault.

Comments

  1. Mitchell says:

    You would think after 4 years, this president and his administration would take responsibility for something?

    The sequester is a joke, all these *major cuts* over the course of a year amount to about 1 1/2 month of fed bond buying. The 1.2 trillion dollars is over 10 years, what was the deficit last year, 1.2 trillion for one year? It doesnt do a damn thing to solve the issue and the mindless drones in this country dont even realize it.

    Taxes were put on the board earlier this year, it really is time for cuts. It is time for the government to come in and cut the fat across the board from military to the social entitlements.

    • Jon Geeting says:

      The immediate crisis is the Republicans’ fault. No fake debt ceiling crisis, no sequester. It’s that simple. There’s no reason to cut anything now, let alone lop 0.6% off GDP for the rest of this year. We should not self-derp our way into another recession when nobody but the sadistic assholes in the Republican Party are forcing these spending cuts on us.

      In the medium term, we only need between $700 billion and $1.5 trillion in deficit reduction (tax increases or spending cuts) over the next 10 years to stabilize the debt. That’s all we need in the medium term. After that we need to get serious about cutting what we pay to health care providers, doctors and hospitals.

  2. Jack Contado says:

    Obama:
    “…these automatic spending cuts that were put into place back in 2011, were designed to get Congress to actually avoid them…”
    or in other words
    “I know you think you understand what you thought I said,
    but I’m not sure you realize that what you heard is not what I meant!”

    • Jon Geeting says:

      Obama made a mistake in thinking that a grand bargain on the budget was possible in 2011 and was wrong to negotiate over the debt ceiling in pursuit of said grand bargain. But the original decision to take the debt ceiling hostage is what started it all. Boehner Rule, Boehner Rule, Boehner Rule. all the Republicans.

  3. Mitchell says:

    how are you stabilizing the debt Jon when you are running trillion dollar deficits per year?
    Real business math, not the governmental drivel that is fed to the drones.

  4. Jack Contado says:

    Mitchell,Mitchell, Mitchell….Stabilizing the debt is unimportant! Just ask Jon! Hell, if someone wants the money we owe them, we can just print it! You’re clearly not following Jon’s postings closely….get withthe program

    • Jon Geeting says:

      I’m for stabilizing the debt. Which will require between $700 billion and $1.5 trillion in tax increases/spending cuts over a decade.

      • John says:

        Not even close, but that’s ok you’re at least learning that the debt can’t continue on its current path.

        • Jon Geeting says:

          What’s the right number then over the next 10 years? Not to pay off the debt, to stabilize it.

          • John says:

            When you factor in the cost overruns with Obamacare that are already happening, and add in entitlement shortfalls, and couple those with the fact that in 10yr government projections everything always costs 2x what they said it would, $3 trillion easy and probably more.

            Simpson Bowles is the way to go.

          • Jon Geeting says:

            Think I’ll defer to the actual budget experts over your back of the envelope doodlings

          • John says:

            But I am seriously happy you’ve finally learned that you can’t just continue to increase this debt load without there being consesquences. This is a monumental step for you!

            And given both parties’ inability to control spending, I’d be ecstatic with debt stabilization.

          • Jon Geeting says:

            No change in position for me. My position has always been bigger deficit in the short run, deficit reduction in the medium term when interest rates start going up, and health care price controls in the long run.

          • John says:

            Sorry, not doodles but an independent analysis taking into account facts that are not included in the analyses that you’ve read. For example, it’s widely accepted that Obamacare’s accounting methods significantly understate its true cost by including 6 years of expenses and 10 years of revenue. That needs to be factored in to your debt stabilization figure.

            I’ve also asked you to give me one, just one, entitlement program that came in at budget. You’ve been unable to come up with one example. I on the other hand have given you myriad examples of cost overruns. They always cost more Jon, ALWAYS.

            Entitlement shortfalls are also well documented. You’ve touted your solution on these many times- increase taxes and throw more money at them. But they’re real and they’re there.

            Jon, here’s something you need to get your head around – If I only cared about my generation, I’d say to run that fucking debt up to $100 trillion because it won’t matter to me, I’ll be dead before it comes home to roost. Your generation is the one that’s going to get hammered by this. I don’t want that to happen.

          • Jon Geeting says:

            Sad that you’re still using that debunked Obamacare talking point. Gives me a good idea of what kind of conservative junk food news you read.

            Probably means you didn’t see the recent CBO report lowering projected Medicare spending by $500 billion.

          • John says:

            True no change in your position, and you still don’t understand the difference between deficit and debt.

            Reducing the deficit is great, but as long as there is a deficit debt does not stabilize, it continues to increase. You need to eliminate the deficit to stabilize the debt.

          • Jon Geeting says:

            You definitely don’t need to eliminate the deficit to stabilize the debt-to-GDP ratio

          • John says:

            So you don’t want to stabilize the debt, you want to stabilize the ratio. Love that crap, your plan involves there being a budget deficit and increasing debt forever. Good thing you don’t make any decisions that matter.

            And the reason why you don’t do that? Because shit happens and you need to be prepared to deal with it. Your “plan” involves planning for nothing bad to ever happen. Anyone with any experience in the real world knows this is just fucking stupid.

            Be nice if you part of that linguistics degree involved learning to communicate clearly.

          • Jon Geeting says:

            Yes, what is wrong with a budget deficit forever? We never need to balance the budget. Not only is it not economically necessary, but politically it’s just stupid. The second after the budget is balanced, the Republicans are going to start clamoring for new regressive tax cuts. That’s what happened the last two times we had a balanced budget. Why would Democrats ever be stupid enough to let that happen again?

  5. Mitchell says:

    What you fail to point out that this sequester is not even real cuts to actual spending, it is government speak for cutting PROPOSED spending, ie. we wont buy the mustang we were planning to buy this year so we just got 40k in deficit savings.

    But on cash in cash out, you are still running a deficit. Still owing more and more each year.
    What needs to happen jon is a deleverage of debt across the board, both personal and governmental.

    I am not talking austerity like the Europeans are doing now. They are doing it all wrong across the pond. Austerity needs to be coupled with write offs of governmental debt. The EU needs to write off Greece’s debt as uncollectible and move on. They not only need to force the banks to take the hit, but X government needs to incurr the losses also. But that will never happen due to economic and geopolitical realities of that region.

    As every business owner knows, Debt, especially non productive debt like the US is incurring via government handouts, hampers long term growth.

    To your question, what is the right debt number, the answer is, the lowest number you can get.

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