Tags: Cato | Institute | Steve | Malzberg

Cato Institute to Malzberg: Sequestration Won’t Devastate Most People

Friday, 01 Mar 2013 04:40 PM

By Bill Hoffmann

Yes, it’s serious, but sequestration will not have cataclysmic consequences for the average person as some have feared, according to Michael Tanner, a senior fellow at the Cato Institute.

“If you receive a government paycheck or you’re a government contractor … there’s going to be a certain amount of pain in the future,’’ Tanner told Steve Malzberg on Newsmax TV’s “The Steve Malzberg Show.’’

Watch Steve Malzberg 3-6 PM ET at http://www.newsmax.com/live or listen on SiriusXM Satellite Radio America’s Talk 166.
Story continues below.


“It is not going to be pleasant. But for the average American, I don’t think they’re going to see anywhere near the type of consequences that we’re hearing about.’’

Tanner — a domestic policy expert with the Washington-based public policy think-tank — said the amount of the cut in question is far less than everybody thinks.

“We are … talking about, really, a $44 billion cut this year,’’ he said.

“They keep talking about $85 billion, but the reality is $41 billion of that is cuts in future years that are attributed budgetarily to this year but don’t actually occur.

“If it was $85 billion, it would be 2.3 percent of federal spending this year. If it’s $44 billion, which I believe it is, it’s 1.2 percent of federal spending, and that’s from a budget that’s set to increase. It’s out of a $3.8 billion budget.’’

Tanner said the government will actually will spend more money than it did this year, and more money next year than it did this year.

“So we’re not even reducing spending. We’re simply slowing the rate of growth,’’ he said.
Tanner, likewise, said the ongoing talk about harmful cuts to the nation’s defense is somewhat rhetorical.

“Certainly, the rhetoric is not helpful. You don’t announce your weakness in advance. And some of this is just PR,’’ Tanner said.

“Look, defense does take a hit. It’s about a 13 percent cut. They actually are one of the few parts of the budget that takes a cut in real terms. On the other hand is the cutback until 2007 defense levels. Somehow we managed to keep the country safe.’’

© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Army Officer: Bergdahl Charged With Desertion, WH Wants It Kept Quiet

Monday, 26 Jan 2015 23:06 PM

Army Sgt. Bowe Bergdahl has been charged with desertion, but the White House is trying to keep the story under wraps, a  . . .

Snowstorm Threatens to Paralyze Northeast for Days

Monday, 26 Jan 2015 18:12 PM

Tens of millions of people along the Philadelphia-to-Boston corridor rushed to get home and settle in Monday as a fearso . . .

Sen. Ayotte: Trading Terrorists for Citizens Sets Bad Precedent

Monday, 26 Jan 2015 22:23 PM

Sen. Kelly Ayotte told Fox News she is glad Rep. Duncan Hunter is asking questions about the timing of the release of an . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved