Saturday, February 23, 2013

The #SeekRenters

The sequester debate isn't about spending cuts, it's about a tiny slowing in the rate of increase of funds transferred to Federal rent seekers. Noted in the Wall Street Journal: The Unscary Sequester
In Mr. Obama's first two years, while private businesses and households were spending less and deleveraging, federal domestic discretionary spending soared by 84% with some agencies doubling and tripling their budgets.

... from 2008-2013 federal discretionary spending has climbed to $1.062 trillion from $933 billion—an increase of 13.9%. Domestic programs grew by 16.6%, much faster than the 11.6% for national security.

Transportation funding alone climbed to $69.5 billion in 2010 with the stimulus from $10.7 billion in 2008, and in 2013 the budget is still $17.9 billion, or about 67% higher. Education spending more than doubled in Mr. Obama's first two years and is up 18.6% to $68.1 billion from 2008-2013.

... total discretionary domestic spending is up closer to 30% from 2008-2013. The sequester would claw that back by all of about 5%.

... The sequester will surely require worker furloughs and cutbacks in certain nonpriority services. But most of those layoffs will happen in the Washington, D.C. area, the recession-free region that has boomed during the Obama era.
If Mr. Obama were really serious about improving the equality of income distribution, he might consider that a positive. According to Stephen S. Fuller, director of the Center for Regional Analysis at George Mason University, about
"...15 cents of every dollar from the entire federal procurement budget stays in or around the government's hometown. ..."We're seeing an enormous transfer of wealth from taxpayers to the Washington economy," said Fuller."
Upton Sinclair was a socialist, but when he said, "It is difficult to get a man to understand something, when his salary depends upon his not understanding it," he was on to something; though he did neglect to mention the mendacity of politicians in fostering said ignorance. The threats issuing forth from the Obama administration - to prioritize cutting baby food and meat inspection rather than not funding the next Solyndra or ending high speed rail boondoggles; and putting slashing veterans benefits ahead of cancelling the DOD's "green" projects - show a cynical disregard for taxpayers and reveal the deep hypocrisy of the president's purported compassion.

No comments: