Much to the horror of various interest groups, it appears that there will be a “sequester” on March 1.
This means an automatic reduction in spending authority for selected programs (interest payments are exempt, as are most entitlement outlays).
Just about everybody in Washington is frantic about the sequester, which supposedly will mean “savage” and “draconian” budget cuts.
If only. That would be like porn for libertarians.
In reality, the sequester merely means a reduction in the growth of federal spending. Even if we have the sequester, the burden of government spending will still be
- Quotes of the day Allahpundit 3 hours ago
- Ebola: First case coming to America Mary Katharine Ham 4 hours ago
- Wisconsin Supreme Court upholds Gov. Scott Walker’s signature Act 10 in its entirety Mary Katharine Ham 5 hours ago
- Is Romney poised for a comeback? Allahpundit 5 hours ago
- Video: Baffling gun-control ad from Mike Bloomberg’s group draws inevitable response Allahpundit 6 hours ago
- Democratic Senator calls for CIA director’s resignation for spying on Congress Noah Rothman 7 hours ago