There has been much wailing and teeth gnashing coming from members of the elected class over the sequester “crisis” they invented for themselves. You hear from their propaganda arm mainstream media that the consequences of the sequester occurring will be dire. It’s all political theater.
Let’s put things in perspective. The “cuts” aren’t cuts as people outside of the Beltway understand cuts, and they aren’t really more than spit in the ocean. It’s evidence there is no stomach among the elected class for making any cuts of significance in government spending.
The total “cuts” amount to $995 billion over 10 years. According to the Congressional Budget Office, $55 billion per year will be sequestered from defense and $37 billion per year will be cut from non-defense discretionary spending. These cuts are factored in after inflation adjustments and more than $1 trillion of defense and non-defense discretionary spending is exempted. When all is said and done, there will be an actual $110 billion increase in spending, according to the CBO.
If it were really a cut and not Washingtonian doublespeak, cutting $95 billion from a budget that spends more than $3.5 trillion is the equivalent of cutting just $9,500 from an annual budget of $350,000.
When the rubber meets the road, here’s all you really need to know. The U.S. government is already in default. It has no intention of paying off its debt. It’s just that few people are willing to believe it.
Printing press make-believe paper money is not money, and the government only pretends to pay. This is the nonsense ruining the American people — that is, all who refuse to buy gold and silver. So far, only 1 percent of Americans own any gold or silver.
What about people who buy gold? They tend to be conservative, work hard and save. Gold owners pay taxes, while more than half of Americans pay no income taxes at all. Gold owners believe that they are on one side and the government is on the other. They clearly understand that the government is engaged in undeclared war on the American people.
The government is destroying the wealth of Americans through devaluation. In reality, this is transferring without payment wealth from the American people to the elite.