Clinton Proves Obama is Wrong on Sequester Effects

Many reports keep pointing out that Sequester affects discretionary spending; a category which is only 1/3 of the total Federal Budget. In addition, Obama keeps warning that those cuts will do harm to do economy. The chart below shows total discretionary spending by presidential term. The Data is based on numbers from Table 8.2 at the White House and also from the CBO's report of a month ago which includes FY2013 and the sequester. Note the following: 1)      Clinton spent $242 billion less on Discretionary in his first term than the total spent under Bush Sr. yet the economy did not collapse.   2)      Bush Jr. hiked spending compared to Clinton yet it did not help us avoid the 2008 downturn.   3)      Despite the Sequester which hits Discretionary Spending, Obama will spend $809 billion more from FY2010 through FY2013 than what Bush spent in his second...(Read Full Post)