Automatic cuts re-emerge as budget battle issue

Oct 15, 2013 Full story: NBC12 15

The broad, automatic spending cuts known as sequestration have re-emerged as a central issue in efforts to end the partial government shutdown and avert a federal default.

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Robert

Douglasville, GA

#1 Oct 15, 2013
Does anyone ever do the math on this or do they just say "how much a month" right now.

Between 2009 and 2012, the federal government recorded the largest budget deficits relative to the size of the economy since 1946, Federal debt held by the public is now about 73 percent of the economy’s annual output(GDP). That percentage is higher than at any point in U.S. history except a brief period around World War II, it is in this environment that Obama cheers and adds Obamacare to the mix.

It is kind of scary to think that after 25 years the only thing you can compare our spending levels to will be World War II. Of course the big difference is that after WWII the spending levels dropped after the war, such will not be the case when we reach similar levels of spending / gdp.

Lance Winslow

San Jose, CA

#2 Oct 15, 2013
Robert wrote:
Does anyone ever do the math on this or do they just say "how much a month" right now.
Between 2009 and 2012, the federal government recorded the largest budget deficits relative to the size of the economy since 1946, Federal debt held by the public is now about 73 percent of the economy’s annual output(GDP). That percentage is higher than at any point in U.S. history except a brief period around World War II, it is in this environment that Obama cheers and adds Obamacare to the mix.
It is kind of scary to think that after 25 years the only thing you can compare our spending levels to will be World War II. Of course the big difference is that after WWII the spending levels dropped after the war, such will not be the case when we reach similar levels of spending / gdp.
Good thing deficit spending as a percentage of GDP has dropped as much as it has since 2009. Funny thing is, overall debt is still overburdened from the costs of the preceding administration, of which there's still half a trillion in spending for that war in Iraq/Afghanistan (dam them pesky WMDs).

“Hicksville Hootenanny”

Since: Sep 13

Kornfield Kounty

#3 Oct 15, 2013
Robert wrote:
When you self-annointed fiscalites can deal with your own past, get back to us.
Robert

Douglasville, GA

#4 Oct 15, 2013
conservative crapola wrote:
<quoted text>
When you self-annointed fiscalites can deal with your own past, get back to us.
We are not under treat from past debt but from the unfunded entitlements of the future, I guess math was to much to ask of a liberal.
Robert

Douglasville, GA

#5 Oct 15, 2013
conservative crapola wrote:
<quoted text>
When you self-annointed fiscalites can deal with your own past, get back to us.
Yea don't worry about it, I am probably just making it up right.

“Hicksville Hootenanny”

Since: Sep 13

Kornfield Kounty

#6 Oct 15, 2013
Robert wrote:
<quoted text>
Yea don't worry about it, I am probably just making it up right.
Yes, manufactured outrage. Another lemming that looked the other way when flubs gave away the store.
Robert

Douglasville, GA

#7 Oct 15, 2013
conservative crapola wrote:
<quoted text>
Yes, manufactured outrage. Another lemming that looked the other way when flubs gave away the store.
Right we don't owe 16 trillion, we were not supporting 1 retiree with 5 workers in 1960, 3 workers supporting 1 retiree in 2009 and 2.1 workers supporting 1 retiree in 2030. There is not baby boomer generation or they won't get sick when they get old like everyone else. Is all a pack of lies, go ahead and put your head back in the sand, everything will be fine.

Halito

Winnemucca, NV

#8 Oct 15, 2013
Where's the Mecca Bar...?
Halito

Winnemucca, NV

#9 Oct 15, 2013
There is such potential Magnificence in the sand....But where's the brain sand?
Halito

Winnemucca, NV

#10 Oct 15, 2013
Is it in the bar bitch u ate?
Halito

Winnemucca, NV

#11 Oct 15, 2013
Opps I cracked an Ostrict egg...

http://en.wikipedia.org/wiki/Suleiman_the_Mag...
Halito

Winnemucca, NV

#12 Oct 15, 2013
What's your gross income?

Since: Dec 07

Spring, TX

#13 Oct 15, 2013
Lance Winslow wrote:
<quoted text>Good thing deficit spending as a percentage of GDP has dropped as much as it has since 2009. Funny thing is, overall debt is still overburdened from the costs of the preceding administration, of which there's still half a trillion in spending for that war in Iraq/Afghanistan (dam them pesky WMDs).
You be's lying again, fruitcake....ratios of deficit to GDP forBush and obama.

James. K Glassman..Forbes.

George W. Bush
2001-08 2.0
2002-09 3.4
Average 2.7

Barack Obama
2009-12* 9.1
2010-12 8.7
Average 8.9

The left and it's fairytales...amusing.

Since: Dec 07

Spring, TX

#14 Oct 15, 2013
Sooooo...let's tax the people who are most responsible for any of the hiring that's been done in our sluggish economy, while our deficit-to-GDP ratio is double what it's ever been in recent years. Obama's going to have to come up with something better than that -- but first, he'll have to admit the damage he's done to the country's economic standing
snow duck

Hanoi, Vietnam

#15 Oct 15, 2013
auto cut!!!!!!!! ;-0000h, watta bad word;)

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